U.S. stock futures are down Thursday morning on disappointing earnings from JPMorgan Chase (NYSE:JPM) and weak data out of China.

Futures on the S&P 500 Index fell 0.35 percent at 8:46 a.m. ET, futures on the Dow Jones Industrial Average dropped 0.21 percent, and futures on the Nasdaq 100 are flat. 

In pre-market trading, JPMorgan Chase shares are down 1.84 percent after the banking giant posted third quarter earnings of $1.02 per share, beating Bloomberg estimates of $0.92 per share. 

However, the bar for earnings expectations for financial like JPMorgan Chase were already very low.

Moreover, the reported earnings were lifted by an adjustment in the value of the company's liabilities, which added $0.29 per share, according to Bloomberg. 

Investors were also weighed down by data coming out of China, which showed that growth in both exports and imports slowed in September.  Growth in exports to Europe took a big hit, reflecting the economic damage of the European debt crisis.

China is the biggest exporter in the world.  That trade growth slowed for the country reflects the weakness of the global economic growth.