US STOCKS-Wall Street slips from record levels on profit-taking

* China's Liu to visit U.S. this week to sign trade

pact-report

* Tesla rival Nio jumps after strong quarterly sales

* Dow Jones on track for worst day in nearly four weeks

* Indexes down: Dow 0.51%, S&P 500 0.50%, Nasdaq 0.83%

(Updates to open, adds comments)

By Manas Mishra

Dec 30 (Reuters) - Wall Street's major indexes slipped on

Monday as investors booked profits on the penultimate day of the

decade after improving global sentiment fueled a U.S. market

rally this month.

The announcement of a Phase 1 U.S.-China trade deal earlier

in December has partly powered the record-setting run on Wall

Street, with the benchmark S&P 500 closing at all-time highs in

nine of the past 11 sessions.

Although the finer details of the agreement have not yet

been disclosed, the South China Morning Post reported on Monday

Chinese Vice Premier Liu He will visit Washington this week to

sign the pact.

But with thin trading volumes in a holiday-shortened week,

some analysts expect a sideways move before the new year. The

Nasdaq .IXIC snapped an 11-day winning streak on Friday.

"It has been a pretty spectacular year and Q4 especially has

been really good so a lot of times people might be inclined to

take some profits," said Randy Frederick, vice president of

trading and derivatives for Charles Schwab in Austin.

Tech stocks largely led the decline on the S&P, with

Microsoft Corp MSFT.O and Apple Inc AAPL.O dragging the

sector. The information technology sector is the best performing

among the 11 S&P 500 sectors this year.

"It is also not uncommon for the leading sectors to pull

back first when people start to sell because if it is an

outperformer then it warrants a lot more downside risk," said

Frederick.

The Dow Jones Industrial Average .DJI was down 144.98

points, or 0.51%, at 28,500.28, the S&P 500 .SPX was down

16.11 points, or 0.50%, at 3,223.91 and the Nasdaq Composite

.IXIC was down 74.82 points, or 0.83%, at 8,931.79.

Meanwhile, China's retail sales are expected to have

increased 8% in 2019, the official Xinhua News Agency reported,

compared with a 9% rise in 2018.

Shares of Nio Inc NIO.N soared 36.4% after the Tesla rival

beat quarterly revenue estimates on higher demand for its

electric vehicles. Declining issues outnumbered advancers for a 1.28-to-1 ratio

on the NYSE and for a 1.93-to-1 ratio on the Nasdaq.

The S&P index recorded 12 new 52-week highs and no new low,

while the Nasdaq recorded 40 new highs and 13 new lows.