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

Good afternoon. Today is Wednesday, July 5th. I'm your host, Kim Kahn.

Our top story so far in today's session, as the Chip

War heats up, Janet Yellen, heads to Beijing. While Wall Street was closed for fireworks

Tuesday, China unveiled a set of national security restrictions that include

placing export controls on metals like gallium and germanium.

These are essential to semiconductors, electric vehicles, and aerospace manufacturing.

China could also step up countermeasures if, as reported,

the U.S. imposes curbs on shipments of AI chips.

The big concerns about ships used in military technology. The most advanced

advanced integrated circuits let nations stay far ahead of their rivals in terms

of weapons systems and intelligence gathering.

Treasury Secretary Janet Yellen arrives in China tomorrow, just weeks after Secretary of State

Anthony Blinkin visited.

Chinese leader Xi Jinping has said he wants to work with other nations to reject the moves of setting up barriers, decoupling, and the

severing of supply chain. Now here's a look at how trading is shaping up. Stocks are lower,

but Tech Bulls are doing their best to overcome the chip sector weakness.

The NASDAQ is faring the best of the major averages with the Dow lagging the S&P 500.

The 10-year Treasury yield is moving closer to 3.9%, oil is higher while Bitcoin is lower.

May factory orders came in weaker than expected, rising 0.3%.

Economists were looking for a rise of 0.8%. Later today the latest Fed minutes

arrive and right at the closing bell New York Fed President John Williams will be

...