* Goldman in $5 billion issue after strong earnings
* Johnson&Johnson earnings awaited before the bell
* Retail, producer prices on tap
* Futures: S&P down 2.1, Dow down 7, Nasdaq up 1.8
* For up-to-the-minute market news click []
(Updates to early morning)
By Edward Krudy
NEW YORK, April 14 (Reuters) - U.S. stock index futures
pointed to a flat open on Tuesday as strong earnings from
Goldman Sachs lifted bank shares and investors awaited the
latest news on the consumer from Johnson & Johnson results and
U.S. retail sales for March.
Goldman Sachs <GS.N> posted a much higher-than-expected
first quarter profit, but said it planned a $5 billion common
share sale to help pay back government funds. It's shares
traded down around 2 percent before the bell.
Healthcare group Johnson & Johnson <JNJ.N> is expected to
report earnings of $1.22 a share excluding items before the
bell, down from $1.26 a year earlier, according to Reuters
estimates.
"People will be looking at Johnson & Johnson very
carefully," said Peter Cardillo, chief market economist at
Avalon Partners in New York. "As far as earnings are concerned
Johnson & Johnson could be a market mover, that could entice
the market to move higher.
On the macroeconomics front, March retail sales are due at
8.30 a.m. (1230 GMT), as are March producer price data.
Cardillo expects "we should see a little uptick in retail
sales which should continue to boost investor confidence
today."
Citigroup <C.N> shares traded up 8 percent to $4.11 in
premarket trade, while Bank of America <BAC.N> rose 1.6 percent
to $11.20. Goldman Sachs fell 2 percent to $127.48.
S&P 500 futures <SPc1> fell 2.10 points and were below 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> fell 7
points, and Nasdaq 100 <NDc1> futures added 1.75 points.
Chipmaker Intel <INTC.O> is set to kick off tech earnings
season, with results eyed closely for guidance on the
semiconductor market.
Investors will also be eyeing comments from U.S. Federal
Chairman Ben Bernanke, who will give a lecture, entitled "Four
questions about the Financial Crisis", at 1.30 p.m. (1730 GMT)
in Atlanta, Georgia.
In other news, The Wall Street Journal reported, citing
people familiar with the matter, that Chrysler's creditors
planned to make a counteroffer to the U.S. Treasury this week
in which they might ask for equity in a firm combining Chrysler
with potential partner Fiat <FIA.MI> in exchange for
concessions.
The S&P 500 and Nasdaq rose on Monday as bets that major
banks will post reassuring quarterly results fueled a run-up in
financials, offsetting uneasiness about the fate of General
Motors <GM.N> .
The Dow, however, slipped after Boeing <BA.N> said cuts in
output of widebody planes and lower-than-expected airplane
prices would hurt first-quarter profit.
(Reporting by Edward Krudy; Editing by Theodore d'Afflisio)
