US STOCKS-Wall St set to open lower after weak retail sales data

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* Macy's gains after Q1 same-store sales beat
* U.S. retail sales unexpectedly fall in April
* Perrigo drops as Jefferies cuts PT
* Futures down: Dow 0.72%, S&P 0.70%, Nasdaq 0.75%

(Adds comments, updates prices)
By Amy Caren Daniel
May 15 (Reuters) - Wall Street was set to open lower on
Wednesday, as a surprise fall in domestic retail sales and
underwhelming data from China raised growth concerns, while
investors waited for more developments on the U.S.-China trade
dispute.
Government data showed U.S. retail sales unexpectedly fell
in April as motor vehicle purchases slumped, while data from
China also showed surprisingly weak growth in retail sales and
industrial output for April, adding pressure on Beijing to roll
out more stimulus. "The U.S. retail sales report is clearly disappointing. It
implies that job and wage growth have not been enough to propel
consumer spending at a faster pace," said Scott Brown, chief
economist at Raymond James in St. Petersburg, Florida.
"The slow patch in one place is consistent with a slow patch
everywhere else. We aren't looking at recessionary numbers, but
it is a yellow flag."
Markets took a breather on Tuesday after U.S. President
Donald Trump called the trade war with Beijing "a little
squabble" and said he would talk to Chinese President Xi Jinping
at a G20 Summit in Japan late next month. The optimistic comments followed a market rout on Monday,
when the S&P 500 .SPX and the Dow .DJI recorded one of Wall
Street's worst declines this year as the two sides imposed
tit-for-tat tariffs on each others imports.
"We're waiting to see how the U.S. is going to hold their
position on the trade issue, and so far the U.S. economy has
been able to stay through just fine," said Charlie Smith, chief
investment officer at Pittsburgh-based Fort Pitt Capital Group.
Concerns that the trade dispute could be protracted and may
impact the global economy have kept investors on the edge over
the past couple of days, with the benchmark S&P index now about
4% below its all-time high reached two weeks ago.
Tariff sensitive Boeing Co BA.N declined 0.8% in premarket
trading, while Caterpillar Inc CAT.N dipped 0.7%.
At 8:52 a.m. ET, Dow e-minis 1YMc1 were down 183 points,
or 0.72%. S&P 500 e-minis ESc1 were down 19.75 points, or 0.7%
and Nasdaq 100 e-minis NQc1 were down 55.5 points, or 0.75%.
Perrigo Company Plc PRGO.N dropped 2.3% as Jefferies
lowered its price target on the generic drugmaker after the
company's recent move to divest its higher margin generic pet
care business.
Macy's Inc M.N rose 2.7% after its quarterly same-store
sales topped Wall Street estimates, benefiting from increased
digital sales and higher demand for discounted luxury items sold
at its off-price stores.