S&P 500 falls from record | It's Trump's market now | Apple to keep rallying?

Stocks were sharply lower Thursday on renewed fears about the U.S.-China trade war.

VIEW IN BROWSER | SUBSCRIBE THU, OCT 31, 2019 EVENING BRIEF AS OF THU, OCT 31, 2019 • 04:01 ET DJIA 27046.41 -0.52% -140.28 S&P 500 3037.63 -0.30% -9.14 NASDAQ 8292.36 -0.14% -11.61   Most Active DOW NAME LAST CHG %CHG AAPL 248.76 +5.50 +2.26% MSFT 143.37 -1.24 -0.86% INTC 56.53 -0.07 -0.12% S&P 500 NAME LAST CHG %CHG GE 9.98 -0.13 -1.29% AMD 33.93 +0.80 +2.41% BAC 31.27 -0.35 -1.11% NASDAQ NAME LAST CHG %CHG AMD 33.93 +0.80 +2.41% FB 191.65 +3.40 +1.81% KHC 32.33 +3.83 +13.44% EDITOR'S NOTE Earnings have not been as soft as projected, the economy may not be slowing as much as feared, the Federal Reserve made a third interest rate cut, and even the disruptive forces of Brexit appear to be on hold for now.   So now investors are back to worrying about the trade war, sending the market sharply lower on Thursday. The morning began with a report airing doubts that Chinese trade officials may have about sealing a trade deal with the U.S. Then came President Trump's tweet bashing the Fed for not lowering interest rates enough and arguing, "China is not our problem, the Federal Reserve is."   China, however, is clearly Apple's problem. The company reported its net sales declines in China were moderating, but still down 2.4% in the third quarter.     Overall, however, Apple turned in results that beat earnings expectations. Its stock turned only slightly higher, held back by the rekindled trade war rhetoric on Thursday morning, writes CNBC's Yun Li.   Some Wall Street analysts say it will be Trump's handling of the trade war that sets the market's direction for the rest of the year. Not the Fed or the impeachment inquiry.   "Trump's trade policy has definitely softened the U.S. economy and the Fed responds with three cuts and says it's back in Trump's court, said Peter Boockvar, chief investment officer at Bleakley Advisory Group. "Therefore, everyone is looking at what happens now with this trade deal."   We'll get another look at the softening economy tomorrow with the latest unemployment numbers. Economists expect gains in nonfarm payrolls of 75,000 in October, down from a rise of 136,000 in September. They also expect the unemployment rate to tick up from its 50-year low of 3.5% to 3.6%.   Not too scary. Happy Halloween!   Navigating the world of financial products such as credit cards can be confusing. That's why we launched CNBC Select where we simplify the process by crunching the numbers, reviewing dozens of offers and providing you with all the information you need in one place. Click here to learn more. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  S&P 500 falls from record despite better-than-expected earnings House passes resolution that lays out formal rules of the Trump impeachment inquiry Trump says new location for signing of 'phase one' of US-China trade deal will be announced soon Trump rails against Powell a day after the Fed cuts rates for a third time this year Jobs data, manufacturing report, Exxon earnings: 3 things to watch in the markets Friday Leon Cooperman rips Elizabeth Warren in new letter for 'soak-the-rich positions,' and treating him like 'an ungrateful child' Trade war fears are spoiling Apple's great quarter These stocks were big winners when the Fed jolted the economy with three rate cuts in the '90s Proposed Ford-UAW deal includes plant closure, $9,000 ratification bonuses How the stock market ends the year is now up to President Trump, investors say     TOP VIDEO Jim Cramer on Apple earnings: This isn't a 'phone story' anymore   CNBC PRO Here's what every major analyst said about Apple's better-than-expected earnings report   SPECIAL REPORTS Apple rises after earnings beat — four experts weigh in The last time GE did this, it plummeted 20% in little over a week   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS