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

Good afternoon. Today is Tuesday, July 30th, and I I'm your host Kim Kahn. Our top story so far.

Meta Platform said it will introduce a new tool called AI Studio in the US which will allow people to

create, share, and discover personalized AI chatbots.

Built with a company's large language model Lama 3.1, AI Studio lets anyone create and

discover AI characters and allows creators to build an AI as an

extension of themselves to answer common questions and story replies helping them

reach more people. Meta said that with AI Studio anyone can create characters on the website AI

meta or in the Instagram app. People can use several prompt templates or start from

scratch to make an AI that teaches how to cook helps with

Instagram captions and generates means among other things. The AI can be

shared with followers and friends and even be made available for anyone to

discover and chat with on Instagram, Messenger,

WhatsApp, and the web.

On the economic front, the conference board

said its measure of consumer confidence rose to 100.3

in July versus 99.7 consensus. That's up from 97.8 in June, but that figure was revised down

from 100.4. In the labor market, June job openings

and labor turnover survey, also known as jolts.

The job openings rate stayed at 4.9% and the quits rate stayed at 2.1%.

Nick Bunker, economist and indeed, noted that the layoff rate ticked back down to an all-time

low of 0.9%.

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