* Futures up: Dow 76 pts, S&P 11 pts, Nasdaq 28.75 pts
By Yashaswini Swamynathan
Oct 18 (Reuters) - U.S. stock index futures were modestly higher on Tuesday, buoyed by better-than-expected quarterly reports, including from Netflix and Johnson & Johnson.
* Shares of Netflix surged 19.13 percent to $118.89 in heavy premarket trading after the video streaming website added many more subscribers in the third quarter than expected.
* Johnson & Johnson rose 0.81 percent and health insurer UnitedHealth gained 1.4 percent after the two Dow components reported market-beating quarterly results.
* A slew of better-than-expected earnings, including from big U.S. banks, have led analysts to now forecast that profit at S&P 500 companies fell just 0.1 percent in the third quarter, less than the 0.7 percent drop they expected at the start of the earnings season.
* Goldman Sachs was up 1.4 percent ahead of its earnings scheduled before markets open.
* IBM fell 2.6 percent after reporting its 18th straight quarter of revenue decline, attracting a flurry of price target cuts from brokerages.
* Intel, scheduled to report after markets close, was up 1.7 percent on a Barclays upgrade. Yahoo is also scheduled to report after markets close.
* Wall Street closed slightly lower on Monday as consumer discretionary and energy stocks dragged.
* A report from the Labor Department is expected to show consumer prices edged up 0.3 percent in September after rising 0.2 percent in the previous month. The data, due at 8:30 a.m. ET (1230 GMT), will be in focus after Federal Reserve Chair Janet Yellen suggested last week that the central bank could allow inflation to top its 2 percent target.
* The dollar fell from the seven-month high it held for the past five days after Fed Vice Chair Stanley Fischer said on Monday that the U.S. economy was very close to its employment and inflation goals, but warned on any rash changes to monetary policy.
* The weaker dollar, along with analysts expectations for a rebalance in the oil market lifted prices of the commodity by 1 percent, while gold prices were on track for their best day in nearly one month.
Futures snapshot at 7:17 a.m. ET:
* Dow e-minis were up 76 points, or 0.42 percent, with 21,338 contracts changing hands.
* S&P 500 e-minis were up 11 points, or 0.52 percent, with 118,953 contracts traded.
* Nasdaq 100 e-minis were up 28.75 points, or 0.6 percent, on volume of 23,433 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D‘Souza)