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

Good afternoon. Today is Monday, December 2nd, and I'm your host, Kim Khan. Our top story so far. The door keeps revolving.

On Wall Street breakfast, you heard about Stalanta's CEO Carlos Tavarez resigning.

Later this morning, Intel made the surprising announcement that CEO Pat Gelsinger is retiring

and will be replaced by co-CEO's David Zizner and Michelle Johnston Holt House.

Gelsinger is stepping down from the company's board of directors as well. Both departures

are effective December 1st.

Holt House has been appointed to the newly created position of CEO of Intel Products,

while Frank Yeri was named interim executive chair. Yeri said, while we have made significant

progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry,

we know that we have more work to do at the company and are committed to restoring investor confidence.

In August, the company said it was cutting staff by 15% and spending by $10 billion as it works

to streamline its operations. Intel shares, which rose slightly after the announcement,

are down 50% year-to-date. In today's trading, stocks are mixed with the NASDAQ outperforming

up nearly 1%. Goldman's trading desk says sentiment really is varied, depending on where you look,

but it would appear we've seen selling in prime, and most sentiment indicators look quite restrained.

The U.S. market is expensive, very much so, but that in and of itself does not preclude

further gains as we head into the end of the year. This week will really be all about jobs.

The market will be hoping they are not too firm, Goldman predicting up $235,000 in payroll's

consensus 200, but just enough to keep the Fed from having

an excuse to skip December. If you want great coverage going into that big Fed meeting,

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