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

Good afternoon. Today is Friday, Januaryth and I'm your host Kim Kahn.

Our top story so far. The December Employment Report came in stronger than expected

with some hotter wage inflation. From an economic perspective, the numbers are more evidence of a persistently

resilient labor market which could help achieve a soft landing. From a monetary policy perspective,

it supports the action so far this year with

traders second-guessing the aggressive rate cut forecasts priced in last month.

Non-farm payrolls rose by 216,000 in December. That was well ahead of the 170,000 economists predicted, although November

and October saw downward revisions. The unemployment rate held steady at 3.7 percent, where the

forecast was for a bounce back to 3.8%.

Average hourly earnings were up 0.4% for the month,

a little hotter than the 0.3% expected.

Annual earnings growth rose to 4.1%. Kate Bond, research director at workrise,

notes one of her favorite jobs report indicators, 14 instances of phrases little changed or unchanged in this report.

She says that's demonstrative of chugging along with her highest count

being around 17.

Gila Ba'ba, chief fixed income strategist at financial services firm Jenny Montgomery Scott, says this is a strong and economy as one can reasonably expect.

Nothing too hot, nothing too cold, and yet we're all paranoid for the one bad thing that's certain to happen.

Markets had a need-jerk reaction to what looked like a hawkish report from a fed perspective.

Stock Index futures tumbled, and Treasury yields jumped, but by the opening bell futures had wiped out losses and yields had cut gains.

The report likely delays the timing of fed rate cuts, Jeremyroub, CEO at Coastal Wealth says.

Clearly the economy is strong enough as of now to withstand the Fed's currently

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