* China's growth slows, but exceeds median forecast
* Bank of America posts loss, shares fall
* Futures up: Dow 60 pts, S&P 7 pts, Nasdaq 13 pts
(Updates prices, adds byline)
By Rodrigo Campos
NEW YORK, April 16 (Reuters) - U.S. stocks were set to rise
at the open on Wednesday after China's economic growth exceeded
expectations and Yahoo shares rallied on the strength of revenue
growth in Chinese e-commerce giant Alibaba, in which it has a
* China, the world's second-largest economy, grew at its
slowest pace in 18 months at the start of 2014, but the rise was
better than expected and showed some improvement in March.
* Revenue growth accelerated in the last quarter of 2013 for
Alibaba , a timely lift as it prepares for a highly
anticipated U.S. initial public offering. Shares of Yahoo, which
holds 24 percent of Alibaba, rallied 7.7 percent in premarket
trading despite posting anemic growth.
* S&P 500 e-mini futures rose 7 points and were above
fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures rose 60
points and Nasdaq 100 futures added 13 points.
* Bank of America posted a first-quarter loss as the
No. 2 U.S. bank recorded $6 billion in litigation expenses
related to a settlement with the Federal Housing Finance Agency
and other mortgage-related matters. The bank's shares fell 0.5
percent in volatile premarket trading.
* Futures held on to most of their gains even as U.S.
housing starts rose less than expected in March and building
permits fell, pointing to underlying weakness in the housing
market. However applications for home mortgages rose last week
as interest rates declined.
* Markets continue to keep an eye on east Ukraine, where
government forces and separatist pro-Russian militia staged
rival shows of force on the eve of talks in Geneva on the former
Soviet country's future.
(Reporting by Rodrigo Campos; Editing by Bernadette Baum)