REFILE-US STOCKS-Wall Street set to open flat as investors shrug off bank results

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* Banks stocks edge lower
* CSX slides after profit miss, weighs on rivals
* Qualcomm up as DoJ asks to pause antitrust ruling
* Futures: Dow and S&P flat, Nasdaq up 0.07%

By Medha Singh
July 17 (Reuters) - Wall Street was set for a muted open on
Wednesday as trade worries and concerns about the balance of
monetary policy and growth outweighed solid results from Bank of
America and a boost to chipmakers from Dutch company ASML.
The second largest U.S. lender BAC.N beat estimates for
quarterly profit as a healthy domestic economy boosted demand
for loans. Its shares were slightly lower premarket.
Earnings from the big banks JPMorgan Chase & Co JPM.N ,
Citigroup Inc C.N and Wells Fargo & Co WFC.N this week have
raised concerns that lower interest rates will pressure profits
at a time when revenue growth is already slow.
Shares of JPM, Citi and Morgan Stanley, which will report on
Thursday, were trading flat to marginally lower.
"It's hard for this for this market to push up substantially
without some resolution on trade," Rick Meckler, partner, Cherry
Lane Investments in New Vernon, New Jersey, said.
At 8:37 a.m. ET, Dow e-minis 1YMcv1 were up 5 points, or
0.02%. S&P 500 e-minis EScv1 were up 1 points, or 0.03% and
Nasdaq 100 e-minis NQcv1 were up 5.75 points, or 0.07%.
Since a sharp fall in May, Wall Street's main indexes have
been trending higher to hit record highs on hopes of interest
rate cuts by the Federal Reserve.
Meckler said markets rose quickly on signs of dovish policy
on rates but investors may be inclined to pause with tensions on
trade giving them a reason to not to commit any fresh capital.
Adding some nervousness to markets was a threat from U.S.
President Donald Trump to tax another $325 billion worth of
Chinese goods. In latest evidence that trade tensions were hurting
businesses, railroad CSX Corp CSX.O reported a quarterly
profit that missed estimates and lowered its full-year revenue
forecast, sending its shares 7.4% lower. Rivals Union Pacific Corp UNP.N and Kansas City Southern
KSU.N , which will post results later this week, fell at least
2% each.
Profit for S&P 500 companies is expected to dip 0.1%, the
first quarterly drop in three years, according to Refinitiv IBES
data.
Meanwhile, strong quarterly profit from Dutch chip equipment
maker ASML ASML.AS helped semiconductor makers including
Advanced Micro Devices Inc AMD.O , Micron Technology Inc
MU.O , Intel Corp INTC.O and Applied Materials Inc AMAT.O
rise between 0.3% and 1.7%. Qualcomm Inc QCOM.O jumped 4.9% after the U.S. Justice
Department asked a federal appeals court to pause the
enforcement of a sweeping antitrust ruling against the mobile
chip supplier. In economic news, U.S. homebuilding fell for a second
straight month in June and permits dropped to a two-year low,
suggesting the housing market continued to struggle despite
lower mortgage rates. FAANG member Netflix Inc NFLX.O will report results after
markets close.