U.S. stocks traded lower Thursday after renewed concerns about a US trade with China, more evidence of a slowdown in manufacturing and mixed corporate earnings, despite a Federal Reserve interest rate cut Wednesday.
The weaker tone comes a day after the S&P 500 scored a record close after the Federal Reserve cut interest rates for the third time this year, signaling that it would pause before taking further steps in monetary policy.  How do the big indexes perform?
Dow Jones Industrial Average
fell 1[ads1]73 points, or 0.6%, to 27,018, while the S&P 500 index
declined 13 points, or 0.4%, to trade at 3,034. Nasdaq Composite Index
fell 17 points, or 0.2%, to 8,287.
The S&P 500 ended the day with 9.88 points, or 0.3%, at 3,046.77 – a record high. The Dow Jones industrial average rose 115.27 points, or 0.4%, to close at 27,186.69, leaving it 0.6% away on record July 15. The Nasdaq Composite ended at 8303.98, up 27.12 points, or 0.3% – 0.3% off its record close from July 26.
The Dow Jones Industrial Average, S&P 500 and Nasdaq each tracked higher for the month ahead of the last day of October Halloween.
What is driving the market?
Chinese officials are expressing doubts about their ability to achieve a comprehensive, long-term trade agreement with the United States despite progress toward signing a "phase one" agreement, Bloomberg reported Thursday. Early Thursday, however, President Trump took to Twitter to quell fears that the cancellation of the Asia-Pacific Economic Cooperation Meeting is scheduled for next month, where the President and China's Xi Jinping expected to sign a "Phase 1" trade agreement would affect progress in the trade talks.
In US economic data, there was more evidence of a decline in production with the purchase of the Chicago Lead Index (PMI) falling to 43.2 in October from 47.1 in September, below expectations of 48.3 consensus, according to Econoday.
The poor reading can be partly blamed for the recently concluded worker strike at General Motors, argued Joseph Brusuelas, chief economist at RSM, in a tweet . "But make no mistake about the fact that the domestic industrial sector is in recession for reasons beyond the strike," he wrote.
The number of Americans who recently applied for unemployment benefits increased by 5,000 to 218,000 in the week ending October 26. but remained near historic lows. Compensation costs for US workers rose 0.7% in the third quarter, the Labor Department said Thursday morning. Year over year, expenses rose by 2.8%, a slight increase from 2.7% in June.
However, Americans increased spending in September for the seventh consecutive month, up 0.2%, while personal income rose 0.3%. Core inflation rose 1.7% last month, according to the Fed's preferred PCE measures, down from 1.8% in August, and below the central bank's 2% target.
On Wednesday, as expected, the Fed cut its benchmark rate for the third time in just as many meetings on Wednesday, but signaled that it could pause before further changes in monetary policy settings were made to see if these steps would be enough to sustain the economic expansion.
"The takeaway for investors was that while the Fed will take a break, it will still cut interest rates if anything negative happens, while it will not raise them even if the economy catches steam – which was enough to propel such as the S&P 500 to new record highs, "said Marios Hadjikyriacos, investment analyst at XM, in a note.
On the corporate revenue front, reports from Apple Inc.
AAPL, + 2.06%
and Facebook Inc.  FB, + 2.54%
issued late on Wednesday was well received, Facebook shares rose 2.5% following the announcement of results that exceeded earnings forecasts and exceeded revenue expectations.  Opinion: Zuckerberg stands defiant in political ads and swings & # 39; free expression & # 39; with critics as a hammer
Apple reported profits in the third quarter dipped by 3% , which beat analysts' expectations, despite iPhone sales fell by 9%, but the stock was up almost 2% in early trading as the phone manufacturer delivered a positive holiday forecast. The company also repurchased the $ 78.9 billion share in the fourth quarter, up from $ 17 billion in the third quarter.
Read: The iPhone provider program is booming, saving Apple's revenue
Which companies are in focus?
Need to know: These overlooked technology companies are more exciting than Apple. quarterly results that increased sales and sales of the same store increased following the summer rollout of the Nitro Cold Brew drink.
Power continued on Thursday, with results ahead of the opening clock from a number of heavyweights, including DuPont de Nemours, Inc.
DD, + 1.45% ,
Shares that rose 1.6% after the material company reported a 26% decline in Q3 results, less than analysts expected.
Bristol-Myers Squibb Co.
BMY, + 1.55%
shares reached 1.9% after the company made earnings estimates, but lowered its earnings guidance per share per year.  Kraft Heinz Co.
KHC, + 12.68%
shares fell 12.4% in early trading on Thursday after the food company reported revenue and sales in the third quarter that beat expectations.
Coffee-and-donut chain Dunkin Brands Group Inc.
DNKN, + 5.43%
said profits increased for the third quarter as revenues increased from the previous year. The company's stock rose 5.7% on Thursday.
Shares of Marathon Petroleum Corp.
was down 3.9% after the energy company reported surpluses that beat expectations, but thumped revenues while announcing plans to spin off the Speedway business and its long-time CEO plans to retire.
Shares of Twitter Inc.
was also in the spotlight Thursday, of 1%, a day after the social media company said it would ban the most possible political advertising from his service.
Fiat Chrysler Automobiles N.V.
FCAU, + 4.31%
FCA, + 8.67%
shares jumped 3.7% in Italy while Peugeot SA
shares fell more than 11% in Paris after two companies said they would combine in a 50-50 merger.
How do other markets trade?
Return on the 10-year US Treasury
dropped 10 basis points to 1.694%.
In commodity markets, the price of West Texas is intermediate crude oil
for December delivery fell $ 1.24, or 2.3%, to $ 53.82 a barrel on the New York Mercantile Exchange. The value of an ounce of gold for delivery in December
GCZ19, + 0.94%
increased $ 15.50, or 1%, to $ 1,512.30. The US dollar fell between 0.4% according to the dollar index.
In Asia, the daily stocks mixed with China CSI 300
falling 0.1%, Nikkei 225
NIK, + 0.37%
adding 0.4% and Hong Kong's Hang Seng Index
HSI, + 0.90%
increasing 0.9%. In Europe the shares were largely lower, with Stoxx Europe 600