US STOCKS-Wall Street set for flat open, big bank earnings mixed


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    * JPMorgan, Citi rise on fourth-quarter profit beat
    * Wells Fargo slides as legal costs hit earnings
    * Delta Air Lines gains on profit beat 
    * Futures: Dow up 0.10%, S&P up 0.02%, Nasdaq flat 

 (Adds comment, updates prices)
    By Sruthi Shankar
    Jan 14 (Reuters) - Wall Street was set to open largely flat
on Tuesday, as  investors took a breather following a record
rally on optimism over the U.S.-China trade deal, while the big
U.S. banks reported mixed quarterly results.
    The S&P 500 and the Nasdaq indexes set new all-time highs on
Monday, helped by bets that the expected Phase 1 U.S.-China
trade deal will spur a rebound in global growth and on easing
Middle East tensions.
    Kicking off fourth-quarter earnings, the largest U.S. bank
JPMorgan Chase & Co  JPM.N  rose 1.1% in premarket trading after
its quarterly profit beat estimates as strength in its trading
and underwriting businesses offset weakness in consumer banking.*:nL4N29J2WR
    Wells Fargo & Co  WFC.N  slid 3.4% after reporting a 55%
slump in profit, as it set aside $1.5 billion toward legal
expenses, while Citigroup Inc  C.N  rose 0.3% as it topped Wall
Street profit estimates.*:nL4N29J366*:nL4N29J38H
    Analysts expect profits at S&P 500 companies to drop 0.7%
for the second consecutive quarter, according to Refinitiv IBES
data, largely due to a drag in energy and industrial earnings
that have been hit by a prolonged trade war.
    China has pledged to buy nearly an additional $80 billion of
manufactured goods from the United States over the next two
years, plus over $50 billion more in energy supplies, Reuters
reported, citing a source briefed on the trade deal that is
expected to be signed on Wednesday.*:nL1N29J03H
    "Expectations are for flat to negative earnings this quarter
and I don't think there are any surprises," said Peter Cecchini,
chief market strategist at Cantor Fitzgerald in New York.
    "Investors are requiring an earnings inflection next year,
and if we don't get it, that will be the catalyst for risk-off
    Delta Air Lines Inc  DAL.N  rose 3.8% after reporting a
better-than-expected quarterly profit, boosted by customers
gained from rival airlines' 737 MAX cancellations.*:nL1N29I14D
     Videogame retailer GameStop Corp  GME.N  tumbled 12.5%
after cutting its fiscal 2019 outlook for profit and same-store
     At 08:52 a.m. ET, Dow e-minis  1YMcv1  were up 28 points,
or 0.10%. S&P 500 e-minis  EScv1  were down 0.5 points, or 0.02%
and Nasdaq 100 e-minis  NQcv1  were down 0.25 points.
    Meanwhile, data showed U.S. consumer prices rose slightly in
December and monthly underlying inflation pressures retreated,
giving the Federal Reserve room to keep interest rates unchanged
at least through this year.*:nLNSECEGGH

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak
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