* Retail sales, Goldman's results eyed before the bell
* Intel, Johnson & Johnson quarterly figures also on tap
* For up-to-the-minute market news click []
(Adds quote, byline, updates prices)
By Ellis Mnyandu
NEW YORK, July 14 (Reuters) - U.S. stock index futures rose
on Tuesday as investors bet that quarterly earnings from
Goldman Sachs Group <GS.N> would kick off a strong reporting
season for financial companies, offsetting caution over the
looming release of June retail sales.
Investors will scrutinize the monthly retail sales data
from the Commerce Department for clues about consumer demand
and 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 month-over-month, versus
an increase of 0.5 percent in May. Excluding autos, retail
sales are expected to match the prior month's 0.5 percent
gain.
"People are looking for some indication that as we approach
the critical back to school and ultimately the Christmas season
that there is some indication that consumers are starting to
open their pocketbooks," said Rick Meckler, president of
investment firm LibertyView Capital Management in New York.
"All these numbers are becoming somewhat important in terms
of sectors of the market finding their legs."
S&P 500 futures <SPc1> rose 4.9 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
57 points, and Nasdaq 100 <NDc1> futures added 0.50 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>.
Before the bell shares of Goldman Sachs were flat at
$149.45, a day after an upbeat analyst recommendation on the
stock sent banks shares rallying.
Also high on the news agenda are developments surrounding
embattled CIT Group Inc <CIT.N>.
According to a source familiar with the matter, the
Treasury and the U.S. Federal Reserve are exploring ways to
provide relief to CIT, a key source of financing for thousands
of small and medium-sized companies.
CIT shares jumped 26 percent to $1.70 before the bell.
After the bell on Monday, No. 3 U.S. railroad CSX Corp
<CSX.N> 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 []
(Additional reporting by Rodrigo Campos; Editing by Padraic
Cassidy)
