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US STOCKS-Futures flat before retail sales, Goldman

Tue Jul 14, 2009 7:12am EDT

Stocks

   

* Retail sales, Goldman's results loom

Stocks  |  Bonds  |  Global Markets  |  Funds News  |  ETFs News

* Intel, Johnson & Johnson quarterly figures also on tap

* For up-to-the-minute market news click [STXNEWS/US]

NEW YORK, July 14 (Reuters) - U.S. stock index futures were little changed on Tuesday as caution ahead of June retail sales offset hopes that Goldman Sachs (GS.N) will kick off a strong reporting season for financial companies.

* Before the bell shares of Goldman Sachs were up 1.4 percent at $151.50, a day after an upbeat analyst recommendation on the stock underpinned a rally in banks stocks.

* Investors will scrutinize the retail sales data for clues about the strength of the economic recovery. The data is due at 8:30 a.m. (1230 GMT), along with the June Producer Price Index.

* According to a Reuters poll of economists, June retail sales are expected to rise 0.4 percent, versus an increase of 0.5 percent in May. Excluding autos, retail sales are seen matching the prior month's 0.5 percent gain.

* S&P 500 futures SPc1 rose 1.70 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 DJc1 climbed 36 points, and Nasdaq 100 NDc1 futures added 2.75 points.

* Goldman, whose results are due before the bell, is among several marquee names scheduled to post quarterly results on Tuesday, including two Dow components -- chipmaker Intel Corp (INTC.O) and diversified healthcare company Johnson & Johnson (JNJ.N).

* After the bell on Monday, No. 3 U.S. railroad CSX rose 6.1 percent after the company reported a stronger-than-expected quarterly profit.

* Dell Inc (DELL.O) could set the tone for the technology sector after the computer maker forecast lower gross margins for the July quarter. For details, see [ID:nN13208933] (Reporting by Ellis Mnyandu; Editing by Theodore d'Afflisio)



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