CNBC·2025-10-30 18:56Market Overview - The S&P 500 and Nasdaq experienced declines due to post-earnings slumps from Meta Platforms and Microsoft, with shares down 10% and 3% respectively despite better-than-expected quarterly results [1] - The Federal Reserve announced a widely expected interest rate cut for the second time this year, influencing market sentiment [1] Company Updates - Honeywell completed the spin-off of its advanced materials business, now known as Solstice Advanced Materials, which began trading under the ticker "SOLS" on Nasdaq [1] - Honeywell shareholders received one Solstice share for every four shares held, with BMO Capital Markets initiating coverage of Solstice with a buy-equivalent rating and a price target of $70, compared to an initial trading price slightly below $50 [1] - Solstice shares rose nearly 6% on debut, reaching an intraday high of approximately $54, while Honeywell's stock remained flat [1] - DuPont is set to complete the split of its electronics business, Qnity Electronics, next week, with the stock joining the S&P 500 and trading under the "Q" ticker [1] Financial Insights - Goldman Sachs CEO David Solomon addressed concerns regarding the bank's stock drop post-earnings, emphasizing strong profit growth and the bank's leadership in investment banking and M&A [1] - Solomon noted that Goldman's trading businesses have increased their wallet share with clients by 380 basis points over the past five years [1] - Solomon described the U.S. economy as being in "pretty good shape" and indicated a low chance of a near-term recession, highlighting a significant investment boom in AI infrastructure with large companies expected to spend $350 billion this year [1] Upcoming Earnings - Apple and Amazon are scheduled to release earnings on Thursday night, alongside cybersecurity firm Cloudflare [1] - Club stock Linde will report results before Friday's opening bell [1]