US STOCKS-Wall St set for higher open on upbeat earnings
* Bank of America up slightly after profit beat
* ARM surges on SoftBank deal; U.S. chip stocks rise
* Futures up: Dow 32 pts, S&P 5.75 pts, Nasdaq 10.5 pts (Adds details, comments, updates prices)
By Yashaswini Swamynathan
July 18 (Reuters) - Wall Street was set to open higher on Monday, setting the stage for the Dow and S&P 500 to hit fresh highs, as U.S. corporate reports continue to top expectations.
Equity futures, which dipped after the close on Friday, shrugged off the impact of an attempted coup in Turkey.
With the S&P and Dow hitting record intraday highs almost every day last week, investors will assess the quality of second-quarter earnings to justify stock valuations.
"The markets are going to be driven by earnings reports while geopolitical problems take a backseat for now," said Peter Cardillo, chief market economist at First Standard Financial in New York.
Bank of America, the No.2 U.S. bank by assets, and fellow S&P component Hasbro posted better than expected profit for the second quarter, mirroring the results of the few companies, including big banks, that reported last week. Continuación...