US STOCKS-Futures flat after JPMorgan results; Goldman Sachs, Wells Fargo eyed

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* Futures: Dow off 0.03%, S&P flat, Nasdaq up 0.05%

By Medha Singh
July 16 (Reuters) - U.S. stock futures were trading flat on
Tuesday as investors parsed through the earnings report from
JPMorgan Chase and awaited results from Wall Street banks such
as Goldman Sachs and Wells Fargo.
The largest U.S. bank by assets slipped 1.2% premarket
reversing an initial gain of about 1% after it reported
quarterly results. L4N24H2J1 Shares of Goldman Sachs GS.N
and Wells Fargo WFC.N , were trading flat to marginally higher.
Citigroup Inc C.N kicked off the earnings season on
Monday, with a mixed quarterly report. It posted a
better-than-expected profit but a decline in its net interest
margin raised concerns that it could signal lower profits across
the industry as interest rates have dropped. The S&P 500 bank index .SPXBK ended the day 1% lower.
Trade war remains a key focus for investors this earnings
season as well as they look to determine how deeply it would
hurt the profits and forecasts of companies.
Profit at S&P 500 companies is likely to dip 0.3%, which
would be the first quarterly drop in three years, according to
Refinitiv IBES data.
Markets have scaled fresh record highs this month on
increasing hopes that the Federal Reserve would lower interest
rate at its policy meeting, which is two weeks away, to cushion
the economy from any slowdown due to trade war.
Dow Industrials member .DJI Johnson & Johnson JNJ.N rose
0.5% after reporting a 41.8% rise in second-quarter profit,
helped by its pharmaceuticals business. At 7:02 a.m. ET, Dow e-minis 1YMcv1 were down 8 points, or
0.03%. S&P 500 e-minis EScv1 were up 0.25 points, or 0.01% and
Nasdaq 100 e-minis NQcv1 were up 3.75 points, or 0.05%.
Also on tap is the Commerce Department's retail sales data,
which is expected to rise 0.1% rise in June after 0.5% decline a
month earlier. The data is due at 8:30 a.m. ET.
Additionally, the U.S. Federal Reserve is expected to report
that industrial production likely edged 0.1% higher in June,
compared to May's 0.4% rise.