* Futures up: Dow 76 pts, S&P 11 pts, Nasdaq 28.75 pts
By Yashaswini Swamynathan
Oct 18 (Reuters) - U.S. stock index futures were modestly
higher on Tuesday, buoyed by better-than-expected quarterly
reports, including from Netflix and Johnson & Johnson.
* Shares of Netflix surged 19.13 percent to $118.89
in heavy premarket trading after the video streaming website
added many more subscribers in the third quarter than expected.
* Johnson & Johnson rose 0.81 percent and health
insurer UnitedHealth gained 1.4 percent after the two
Dow components reported market-beating quarterly results.
* A slew of better-than-expected earnings, including from
big U.S. banks, have led analysts to now forecast that profit at
S&P 500 companies fell just 0.1 percent in the third quarter,
less than the 0.7 percent drop they expected at the start of the
* Goldman Sachs was up 1.4 percent ahead of its
earnings scheduled before markets open.
* IBM fell 2.6 percent after reporting its 18th
straight quarter of revenue decline, attracting a flurry of
price target cuts from brokerages.
* Intel, scheduled to report after markets close,
was up 1.7 percent on a Barclays upgrade. Yahoo is also
scheduled to report after markets close.
* Wall Street closed slightly lower on Monday as consumer
discretionary and energy stocks dragged.
* A report from the Labor Department is expected to show
consumer prices edged up 0.3 percent in September after rising
0.2 percent in the previous month. The data, due at 8:30 a.m. ET
(1230 GMT), will be in focus after Federal Reserve Chair Janet
Yellen suggested last week that the central bank could allow
inflation to top its 2 percent target.
* The dollar fell from the seven-month high it held
for the past five days after Fed Vice Chair Stanley Fischer said
on Monday that the U.S. economy was very close to its employment
and inflation goals, but warned on any rash changes to monetary
* The weaker dollar, along with analysts expectations for a
rebalance in the oil market lifted prices of the commodity by 1
percent, while gold prices were on track for their best
day in nearly one month.
Futures snapshot at 7:17 a.m. ET:
* Dow e-minis were up 76 points, or 0.42 percent,
with 21,338 contracts changing hands.
* S&P 500 e-minis were up 11 points, or 0.52 percent,
with 118,953 contracts traded.
* Nasdaq 100 e-minis were up 28.75 points, or 0.6
percent, on volume of 23,433 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by