CNBC Business News Update - Market Midday: Stocks Mixed, Facebook Parent Meta Shares Drop, Chipotle Shares Crater 10/30/25

Episode Date: October 30, 2025

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I'm Jessica Eddinger, CNBC. Wall Street mixed this afternoon. Investors did not get the China trade deal they had hoped for, but the Dow is higher as investors rotate out of some big tech names. The Dow right now, up 230 points. And Disney shares are leading it higher this afternoon, up almost 3%. Salesforce up 2.5%. 3M up more than 2%. The S&P 500 index in the red, down 20 points. The NASDAQ down 187 points, about three quarters of a percent. Checking shares of Nvidia, they're down one and three quarters percent this afternoon, but the NASDAQ is still on pace for its best week since August. Facebook parent meta stock dropping 10 percent, heightened AI spending at the company has been overshadowing strong third quarter results. Google Parent Alphabet stock jumping after posting strong results, boosting its spending on artificial intelligence. After a 25% point interest rate cut by the Fed. The Fed chair said another cut this year is not a done deal.

By the next meeting, though, the government shutdown could be over, and the Fed could have more data on the economy. It's not a sure thing. Now, we have six weeks. The next meeting is December 10th. I think the next six weeks are very important because even though it ends, December 10th is two weeks before Christmas, we're going to get a good idea about how the consumer is,

going to be reacting to a number of tariff increased prices from all the goods that they're going to buy for the holiday season. That's Wharton Professor Jeremy Siegel on CNBC. Eli Lilly Shears hire today on strong quarterly results, partly because of strong sales for its diabetes drug Manjaro and its weight loss drug Zepbound. And pill versions are coming. We've been ramping both production and planning for really a broad global rollout for Grapron upon regulatory approval. And it's a daily oral pill. Some people don't want to do the injection to begin with. A lot of people who get to their weight target will want to transition to something less

intrusive as a weekly injection. And we think that's a great spot for Forg Grapron as well. Eli Lilly's CEO David Ricks on CNBC. President Trump has met with China's president. No trade deal was announced. but the president has cut so-called fentanyl tariffs to 10%. Beijing says export controls for rare earth minerals, which are critical to manufacturing,

are still on but will be delayed by 12 months. President Trump now calling for the U.S. to begin its first nuclear testing in more than 20 years. The highly anticipated meeting began in an ominous note as President Trump's Marine One helicopter was in the air en route to Busan. His social media site lit up with a message noting that China is quickly catching up to the U.S. and number of nuclear weapons

and announcing that the U.S. will restart nuclear weapons testing, which it hasn't done since 1992 at the end of the Cold War. Now, despite that nuclear saber-rattling, the meeting between Trump and Xi Jinping went forward exactly as planned. We've already agreed to a lot of things, and we'll agree to some more right now. Now, President Trump told reporters on board the return flight on Air Force One and that a trade deal with China would be ready to be signed, quote, pretty soon. CNBC's Aymond Javers.

Coming after the closing bell this afternoon, earnings from Biggies, Apple, and Amazon. Jessica Eddinger, CNBC. This December, CNBC opens its doors for an exclusive in-person experience at the iconic NASDAQ market site in New York City. Fast Money Live, Trading the Holidays. December 11th. Get your tickets now at CNBC Events.com slash best. Fast money.