Honeywell's spin-off starts trading — plus, Goldman CEO's outlook on the economy

On October 30th, the stock market experienced volatility due to drops in Meta Platforms and Microsoft shares, despite better-than-expected results, as investors worried about their increasing AI spending. The Federal Reserve announced a second interest rate cut, and trade front updates, including a reduction in tariffs on China, impacted market movements. Honeywell completed the spinoff of its advanced materials business, Solstice Advanced Materials, which debuted on the Nasdaq. Analysts gave Solstice a buy rating and set a price target of seventy dollars a share. Honeywell plans to split into three separate businesses by the second half of 2026. DuPont is also preparing to spin off its electronics business, Qnity Electronics. Goldman Sachs CEO David Solomon expressed optimism about the US economy, downplaying recession concerns. Investors are now awaiting earnings from Apple, Amazon, and Cloudflare.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.