US STOCKS-Wall St set for weak open after report dents trade optimism

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* Trade deal mood in Beijing pessimistic - CNBC
* T-Mobile down as CEO to step down next year
* HP drops after rejecting Xerox's $33.5 bln bid
* Futures: Dow up 0.04%, S&P and Nasdaq off 0.03%

(Adds comments, updates market action)
By Arjun Panchadar
Nov 18 (Reuters) - Wall Street's main indexes were set for a
subdued open on Monday after a report stoked fresh fears over
the possibility of a U.S.-China trade deal.
The mood in Beijing about a deal was pessimistic due to
President Donald Trump's reluctance to roll back tariffs, which
China believed the United States had agreed to, CNBC reported,
citing a government source.
Futures were higher ahead of the report after Xinhua over
the weekend said that Washington and Beijing had held
"constructive" talks. "This is a market that's going to live or die by the tone
around trade," said Art Hogan, chief market strategist at
National Securities in New York.
"There is some good news that's baked into this market, so
when we get bad news this market's going to roll over."
Hopes of a resolution to the 16-month trade dispute that has
roiled financial markets and throttled global growth have
powered Wall Street's three indexes to multiple record highs
this month.
Also helping sentiment earlier was an unexpected cut by
China to a closely watched lending rate for the first time in
more than four years, as the central bank looks to counter a
slowdown.
At 8:52 a.m. ET, Dow e-minis 1YMcv1 were up 12 points, or
0.04%. S&P 500 e-minis EScv1 were down 1 points, or 0.03% and
Nasdaq 100 e-minis NQcv1 were down 2.75 points, or 0.03%.
Attention this week turns to minutes from the Federal
Reserve's latest policy meeting, where the central bank cut
interest rates for the third time this year. The minutes are due
to be released on Wednesday.
Also on the radar are results from U.S. retailers such as
Home Depot Inc HD.N , Kohl's Corp KSS.N and Target Corp
TGT.N following a stronger-than-expected third-quarter
earnings season so far that has aided the recent rally.
Shares of HP Inc HPQ.N fell 1% after the company rebuffed
a $33.5 billion offer from Xerox Corp XRX.N and said it was
open to exploring a bid for the latter. Xerox dropped 1.9%.
Splunk Inc SPLK.O gained 2.7% after Morgan Stanley
upgraded the data analytics software maker's stock to
"overweight" from "equal-weight". T-Mobile US Inc TMUS.O slipped about 2% after the wireless
carrier said Chief Executive Officer John Legere will step down
next year.