* GE climbs in premarket after results
* Prelim July UMich reading on tap
* Futures up: Dow 16 pts, S&P 4.5 pts, Nasdaq 11 pts
By Chuck Mikolajczak
NEW YORK, July 18 U.S. stock index futures rose
modestly on Friday, putting the S&P 500 on track to bounce from
its biggest decline since April 10, ahead of data on consumer
* Investors will continue to monitor geopolitical tensions,
as world leaders demanded an investigation after a Malaysian
airliner was downed at the Ukraine-Russia border and Israel
announced the start of a Gaza ground campaign on Thursday.
* The CBOE Volatility index surged 32 percent to
14.54 in the prior session, its biggest jump since April 2013,
as the conflict in both the Middle East and Eastern Europe
escalated. However, the index still remains well below its
historical average of around 20.
* General Electric advanced 1.1 percent to $26.90
before the opening bell after the conglomerate posted growth in
second-quarter earnings that matched expectations.
* Google Inc gained 2.1 percent to $593.10 in
premarket after the world's No.1 Internet search company posted
second-quarter results and said its chief business officer would
leave the company.
* IBM shares slipped 1.5 percent to $189.70 in light
premarket trade after the world's largest technology company
reported quarterly earnings that beat analysts' expectations but
its software business grew less than expected.
* Data expected on Friday includes the Thomson
Reuters/University of Michigan's preliminary July reading on
consumer sentiment at 9:55 a.m. (1355 GMT). Expectations call
for a reading of 83, slightly higher than the 82.5 result in
* S&P 500 e-mini futures were up 4.5 points and fair
value - a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the contract
- indicated a higher open. Dow Jones industrial average e-mini
futures rose 16 points and Nasdaq 100 e-mini futures
added 11 points.
* Other S&P 500 companies due to report Friday include
Honeywell and Kansas City Southern.
* S&P 500 companies' profits are expected to grow 4.9
percent in the second quarter, according to Thomson Reuters
data, down from the 8.4 percent growth forecast at the start of
April. Revenue is seen up 3 percent.
* Thomson Reuters data also shows that of 66 companies in
the S&P 500 that have reported earnings through Thursday
morning, 68.2 percent have topped Wall Street expectations,
roughly in line with the 67 percent rate for the past four
quarters and above the 63 percent rate since 1994.
* European and Asian stocks fell, after the Malaysian
passenger plane was shot down over eastern Ukraine, stoking
tensions between Russia and the West.
(Editing by Bernadette Baum)