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

Good afternoon. Today is Thursday, February 22nd, and I'm your host Kim Khan, our top story so far.

AT&T, Verizon, and T-Mobile are being left behind by the Big Market Rally as a large-scale

cellular outage hit the U. US. More than 60,000

incidents were recorded by AT&T subscribers according to Down detector which tracks

outages of major services. Verizon saw more than 3,500 outages while T-Mobile also experienced disruptions,

but both said their networks were operating normally. The calls was unclear. The U.S.

Cybersecurity and Infrastructure Security Agency said it is working closely with AT&T on the cause of the outage.

Sources briefed on the situation told ABC News that the FBI and the Department of Homeland Security are urgently

investigating to determine whether a cyber attack or hack was responsible or if it

was simply a technical malfunction. The outage which started around 4 a.m. Eastern

time also impacted emergency services, including

AT&T's first net, which is used by first responders. By late morning, AT&T said that 3 quarters of its

network had been restored. In today's

trading, the Bulls are off to the races after NVIDIA came through with its

fourth quarter numbers and strong guidance.

Text stocks naturally were the big beneficiaries. The NASDAQ is up 2.5% while the

S&P is up 1.75%. The Infotech sector is up 3% while Communication Services and Consumer Discretionary, the other mega cap homes, are up about

one and a half percent. The strength is coming in the face of rates, which continue to rise today.

The 10-year Treasury yield is above 4.3% and the market is now

pricing in fewer than four quarter-point fed rate cuts this year after a surprise drop

in weekly jobless claims. Claims for the week ended February 17th dropped 12,000 to

...