Fifth Third(US:FITB) CNBC·2025-10-16 18:42Market Overview - The S&P 500 index declined on concerns regarding credit stress in the banking sector, particularly after regional bank Zions announced a $50 million write-off for two loans, leading to a nearly 12% drop in its shares [1] - Capital One and Wells Fargo, both holdings in the Club portfolio, also experienced declines of over 6% and approximately 3% respectively due to market concerns about U.S.-China trade tensions and a potential government shutdown [1] Industrials - DuPont announced details of its spinoff of Qnity Electronics, where shareholders as of October 22 will receive one share of Qnity for every two shares of DuPont on November 1, with trading for both companies starting separately on November 3 [1] - Honeywell's spinoff of Solstice Advanced Materials will see shareholders as of October 17 receive one share of Solstice for every four shares of Honeywell on October 30, with Solstice beginning separate trading under the ticker "SOLS" [1] - Honeywell plans to further spin off its aerospace business in the latter half of next year, focusing the remaining company on automation [1] Smartphones - Apple's global smartphone shipments increased by 4% year-over-year in Q3, solidifying its position as the second-largest smartphone player, while Samsung remains the leader in market share [1] - The report from Counterpoint Research highlighted that Apple's iPhone 17 series has been well received, with record-breaking pre-bookings across regions, which is positive news for Apple as it derives most of its revenue from iPhone sales [1] Health Care - Amazon One Medical expanded its pay-per-visit telehealth services to children aged 2 to 11, charging $49 for video consultations and $29 for text message consultations, with no insurance or membership required [1] - The service aims to address common children's illnesses and allows parents to renew medications like EpiPens and asthma treatments [1] - Amazon Pharmacy has also launched prescription drug kiosks in some One Medical offices, with plans for further rollout [1] Upcoming Reports - Financial companies including American Express, Truist, State Street, and Fifth Third Bancorp are set to report results before Friday's opening bell, which will provide insights into U.S. consumer health and the banking sector amidst ongoing credit concerns [1]