US STOCKS-Wall St slips as trade deal doubts return

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* Trade deal mood in Beijing pessimistic - CNBC
* HP dips after rejecting Xerox's $33.5 bln bid
* Coty gains on $600 mln majority stake in Kylie Jenner
businesses
* Indexes off: Dow 0.06%, S&P 0.24%, Nasdaq 0.37%

(Updates to open)
By Arjun Panchadar
Nov 18 (Reuters) - Wall Street's main indexes eased from
record levels on Monday after a report stoked fresh fears about
a resolution to the U.S.-China trade dispute that has hit global
growth and roiled financial markets over the past 16 months.
The mood in Beijing about a deal was pessimistic due to
President Donald Trump's reluctance to roll back tariffs, CNBC
reported, citing a government source. Investors had turned optimistic over the weekend after
Chinese state media said the two sides had held "constructive"
trade talks, days after White House economic adviser Larry
Kudlow said they were getting close to a trade deal.
"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 (it's) going to roll over."
Seven of the 11 major S&P 500 sectors were lower, with the
energy sector leading declines after a fall in oil prices.
Technology shares .SPLRCT dropped 0.36%, while the
trade-sensitive Philadelphia Semiconductor index .SOX was down
0.42%. O/R
Global stocks were lifted earlier by a surprise cut in a key
interest rate by China for the first time in more than four
years. MKTS/GLOB
Attention this week turns to minutes on Wednesday from the
Federal Reserve's latest policy meeting, where the central bank
cut interest rates for the third time this year.
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.
At 10:26 a.m. ET, the Dow Jones Industrial Average .DJI
was down 15.94 points, or 0.06%, at 27,988.95, the S&P 500
.SPX was down 7.53 points, or 0.24%, at 3,112.93 and the
Nasdaq Composite .IXIC was down 31.91 points, or 0.37%, at
8,508.92.
Shares of HP Inc HPQ.N dipped 0.94% after the company
rebuffed a $33.5 billion offer from Xerox Holdings Corp XRX.N
and said it was open to exploring a bid for the latter. Xerox
dropped 0.87%. Coty Inc COTY.N gained 1.9% after saying it would pay $600
million for a majority stake in Kylie Jenner's make-up and
skincare businesses, as it looks to tap into the reality TV
star's huge social media reach. Declining issues outnumbered advancers for a 1.45-to-1 ratio
on the NYSE and for a 1.64-to-1 ratio on the Nasdaq. The S&P
index recorded 32 new 52-week highs and no new lows, while the
Nasdaq recorded 64 new highs and 69 new lows.