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

Good afternoon. Today is Thursday, July 13th, and I'm your host, Kim Com.

Our top story so far in today's session.

Open AI, the maker of the popular chat gPT chatbot, is reportedly under investigation

by the US government over consumer protection risk.

The FTC is opened an in-depth inquiry into open AI

due to worries that it has violated consumer protection laws,

according to the Washington Post.

Open AI is backed by billions of dollars from Microsoft.

The FTC is asking for documents about the company's data protection practices and

whether the chatbot generates false information.

Open AI and Microsoft did not immediately respond to a request for comment from seeking

Alpha.

In March, Open AI temporarily disabled the history feature on the service after some users reported seeing other users conversation.

Open AI has come under scrutiny for data protection around the world, including in Italy after it was temporarily banned in the country.

Service resumed in Italy in April after the company addressed or clarified the data protection and privacy requests of regulators.

Separately, in April, the European Data Protection Board said it had created a task force to look at the chat

GPT. Now look at today's trading. Stocks are continuing their alley, sparked

by the CPI the day before. More good news on the inflation front is pushing equities up

while rates slide. The NASDAQ is up around 1%, the best performer for the second day in a row, as the SMT and the Dow also climb.

The June PPI rose 0.1%, less than the 0.2% expected.

Annually, the PPI rose just 0.1%,

...