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

Good afternoon. Today is Wednesday, December 27th, and I'm your host, Kim Khan. Our top story so far.

The New York Times is suing Microsoft and Open AI for copyright infringement, alleging the companies

have illegally used the newspaper's

content to train artificial intelligence models.

The lawsuit filed in Federal District Court in Manhattan alleges millions of articles from

the Times were used to train the AI models.

Times Journalism is the work of thousands of journalists, whose employment costs hundreds of millions of dollars per year, the paper said in its complaint.

Defendants have effectively avoided spending the billions of dollars

at the Times invested in creating that work by taking it without permission or compensation.

The lawsuit comes in an impasse in negotiations between the Times, Microsoft, and Open AI

over how to come to an amicable resolution in the use of intellectual property in generative

AI technology. The Times said it first approached the companies in April in an effort to

resolve the matter. The lawsuit comes days after a group of 11 non-fiction writers

joined a lawsuit in Manhattan Federal Court alleging Open AI and Microsoft misused their books to train

AI models. In September, open AI was sued in a New York federal court by a number of

authors including George R. R. R. Martin and John Grisham over alleged copyright infringement.

In today's trading, stocks are trading mostly sideways with volume seasonally low.

The S&P 500 still has a good shot though at extending its weekly winning street to the end of the year.

The bond market is more active.

Rates continue to decline with the 10-year Treasury yield moving below 3.85%

and the 2-year yield falling below 3.85% and the 2 year yield falling below 4.3%.

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