CNBC Business News Update - Market Open: Stocks Lower, No China Trade Deal Yet, Microsoft and Facebook Parent Meta Dragging Nasdaq Lower 10/30/25

Episode Date: October 30, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Eddinger, CNBC, Wall Street in the Red. After quarterly results from Facebook, parent, META, and Microsoft, investors also didn't get the China trade deal they were hoping for. The Dow's only down 39 points this morning out of the gate. Boeing shares are leading it lower, down 3%. The S&P 500 index is down 49 points, three quarters percent. The NASDAQ pulling back $300. and eight points. That's one and a quarter percent. Shares of Invidia down more than two percent.

After a 25 percentage point interest rate cut by the Fed, the Fed share said another cut this year is not a sure thing. He said not only is a rate cut, not a sure thing for the December meeting. He's emphasized by saying far from it. Those words, I think the Dow dropped 150 points in five seconds after that. Wharton Professor Jeremy Siegel 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 Aman Javers. Eli Lilly shares were snoring on strong quarterly results partly because of strong sales for its diabetes drug Manjaro and its weight loss drug Zepbound. Google parent alphabet shares were higher on strong quarterly results driven by Google Cloud Sales and YouTube advertising. Starbucks, lower on a week quarterly report, but the company did show same store sales growth for the first time in nearly two years. 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 vast money.