* GE climbs in premarket after results
* Preliminary July UMich reading on tap
* Futures up: Dow 11 pts, S&P 3 pts, Nasdaq 12.75 pts
(Updates prices, adds Honeywell earnings)
By Chuck Mikolajczak
NEW YORK, July 18 U.S. stocks were poised for a
slightly higher open on Friday, after the S&P 500 suffered its
worst decline since April 10 and was on track for a second
straight weekly decline, ahead of data on consumer sentiment.
* 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 $26.89
before the opening bell after the conglomerate posted growth in
second-quarter earnings that matched expectations.
* Google Inc gained 3.2 percent to $599.53 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 percent to $190.66 in 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 82.5 in June.
* S&P 500 e-mini futures were up 3 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 slightly higher open. Dow Jones industrial average
e-mini futures rose 11 points and Nasdaq 100 e-mini
futures added 12.75 points.
* Honeywell International, a maker of aircraft
cockpit parts and other electronic equipment, raised the lower
end of its 2014 profit forecast range and reported
better-than-expected quarterly profit.
* 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 beat Wall Street expectations, roughly in
line with the 67 percent rate for the past four quarters and
above the 63 percent rate since 1994.
(Editing by Bernadette Baum)