India, Nov. 18 -- Stocks are seeing modest weakness in morning trading on Monday, giving back ground after climbing to new record highs last Friday. The major averages have all moved to the downside, although selling pressure has remained relatively subdued.

Currently, the major averages are lingering below the unchanged line. The Dow is down 22.32 points or 0.1 percent at 27,982.57, the Nasdaq is down 25.40 points or 0.3 percent at 8,515.43 and the S&P 500 is down 5.77 points or 0.2 percent at 3,114.69.

The modest weakness on Wall Street comes after a tweet from CNBC's Beijing Bureau Chief Eunice Yoon suggested Chinese officials have grown pessimistic about the chances for a trade deal.

"Mood in Beijing about #trade deal is pessimisti...