S&P 500 touches another record | Can Fed keep party going? | GrubHub, Beyond Meat plunge

Take a lesson from GrubHub: When barriers to entry are low, a good idea breeds competition.

VIEW IN BROWSER | SUBSCRIBE TUE, OCT 29, 2019 EVENING BRIEF AS OF TUE, OCT 29, 2019 • 04:01 ET DJIA 27070.81 -0.07% -19.91 S&P 500 3036.80 -0.09% -2.62 NASDAQ 8276.85 -0.59% -49.13   Most Active DOW NAME LAST CHG %CHG AAPL 243.29 -5.76 -2.31% PFE 38.21 +0.93 +2.49% MSFT 142.83 -1.36 -0.94% S&P 500 NAME LAST CHG %CHG AMD 33.03 -0.66 -1.96% BAC 32.06 +0.22 +0.69% GE 9.07 UNCH UNCH NASDAQ NAME LAST CHG %CHG AMD 33.03 -0.66 -1.96% AAPL 243.29 -5.76 -2.31% SIRI 6.37 -0.09 -1.39% EDITOR'S NOTE GrubHub's more than 40% slide Tuesday should remind investors of an important lesson: If anybody can knock off a business idea, there's a good chance somebody will. Five Wall Street analysts downgraded the stock, noting vastly increased competition in the food delivery business. Investors buying in at the top should have asked this crucial question: How hard is it to start a food delivery service?   Beyond Meat was another big loser Tuesday, down more than 20%. A lockup period expired and now company insiders can sell for the first time since their spectacular initial public stock offering. A sell-off was to be expected.  The company's success, after all, is based on a recipe and recipes can be copied.   WeWork, which recently dashed plans for an IPO, has the same issue. It's mostly just a marketing fete to lease office space and break it up into coworking units.  The barriers to entry are just not high enough to keep competitors at bay.   Stocks were little changed Tuesday, but the gains were enough to push the S&P 500 to a new high. There is nearly a 100% chance the Federal Reserve will announce another rate cut as it finishes its October meeting tomorrow, at least according the CME FedWatch Tool. Some Fed watchers are also pondering whether the central bank will resort to another big expansion of its balance sheet, writes CNBC's Patti Domm. The Fed has already taken temporary steps to fund the overnight funds market that banks rely upon for short-term liquidity. A permanent solution is needed, but Fed Chairman Jerome Powell isn't likely to have one tomorrow. It's a safe bet the Fed will again promise to do whatever it takes to keep our slowing-but-still-going expansion in gear. It's also a safe bet that whatever it does, it won't be enough for Donald Trump. "The Fed doesn't have a clue!" the president tweeted Tuesday. "We have unlimited potential, only held back by the Federal Reserve."    Navigating the world of financial products such as credit cards can be confusing. That's why we launched CNBC Select where we simplify the process by crunching the numbers, reviewing dozens of offers and providing you with all the information you need in one place. Click here to learn more. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  S&P 500 touches new high, but is little changed ahead of Fed meeting In fiery Senate hearing, Boeing admits its safety assessments of 737 Max fell short UAW strike cost GM up to $4 billion for 2019, substantially higher than estimated Beyond Meat shares plunge despite solid results as insiders rush for the exits GrubHub shares crater more than 40% after a terrible earnings report causes analysts to bail on the stock The NCAA will allow athletes to profit from their name, image and likeness in a major shift for the organization House Democrats release resolution outlining impeachment probe process The wrong kind of stocks are leading the stock market to records Trump rages as an official who listened to the Ukraine call is set to testify in impeachment probe Fed set to cut rates, GDP report, Apple earnings: 3 things to watch in Wednesday's markets     TOP VIDEO Jim Cramer breaks down what's driving the stock market's rally toward all-time highs   CNBC PRO Top GE analyst Tusa continues 'to see downside' going into earnings report   SPECIAL REPORTS Market bull goes on pullback watch, sees trouble in homebuilders Watch these two luxury retail stocks, technical analyst says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS