Welcome to Seeking Office Wall Street Lunch.

Our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, October 5th, and I'm your host, Kim Kahn.

Our top story so far, what's the fate of Direct TV?

AT&T is reportedly looking over options on the joint venture in which it holds 70% of the satellite

TV provider. A three-year commitment with private

equity co-owner TPG is due up at the end of July 2024 and AT&T has the right

to conduct sales talks. The telecom company is looking over options including a dividend

recapitalization, adding a new investor, or selling out as soon as next August. That's

according to a report from Bloomberg. As Direct TV faces industry standard declines and subscribers with streaming video

ascendant, the customer losses are cutting into the cash distribution that AT&T receives

from Direct TV. First to have payments to AT&T receives from Direct TV.

First half payments to AT&T from Direct TV fell to 1.9 billion this year from 2.7 billion a year ago.

AT&T acquired Direct TV in 2015 for $48.5 billion.

In the markets today, stocks look to be reverting to a good news is bad news trading scenario.

That's when good economic news sparks equity selling because it means the Fed stays

vigilant on high rates and tight conditions. Stock features lost some momentum after weekly

jobless claims barely budge confounding confounding expectations for her eyes.

Pantheon Macro says it is clear that the initial surgeon layoffs late last year

concentrated in the text sector has flattened.

This does not mean, though, that all risk of a sustained increase has passed.

They say the impact of much higher rates and tightening credit has not yet worked through the economy in full,

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