Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon. Today is Tuesday, May 7th I'm your host Kim Khan. Our top story so far.

Apple took the wraps off its latest iPads showcasing a new iPad Air, iPad Pro, and more.

CEO Tim Cook called it The Biggest Day for Air, iPad Pro, and more.

CEO Tim Cook called it the biggest day for iPad since its introduction.

Among the updates, the new iPad Air is nearly 50% faster than the previous iPad Air, with up to three times more performance.

Apple also touted the iPad air's artificial intelligence capabilities with better machine

learning capabilities.

The new iPad Pro offers a new display bringing tandem

O-L-E-D which improves color and pixel performance. The iPad Pro also offers

nanote texture glass which reduces glare and comes with

Apple's latest chip the 3 nanometer M4. The new M4 also comes with a powerful

CPU with four performance cores and six efficiency cores and a new 10-core

GPU bringing ray tracing widely used in enhancing gaming to the iPad for the first time.

Apple also showed off new versions of its content editing apps, Final Cut Pro, and Logic Pro.

The unveiling comes as Apple's iPad business has experienced ongoing weakness in recent memory.

Revenue attributed to the iPad fell 17% year over year

to 5.56 billion dollars in the most recently reported quarter. In today's

trading it's another day of lacking real macro drivers and the major averages are little changed.

Treasury yields are lower on the long end with the tenure back below 4.45%.

With earning season close to winding down,

Marko Kalanovich says forecast for the S&T earnings per share to rise

...