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

Good afternoon, today is Wednesday, January 8th, and I'm your host, Kim Kahn. Our top story so far.

Quantum computing stocks are sinking after NVIDIA's CEO Jensen Wong said that very useful quantum

computers are over a decade away.

Grigetti computing, Arcite quantum, D-Wave quantum, ion Q, and quantum computing are all off about a third.

Wong said at a CES Q&A,

If you kind of said 15 years for very useful quantum computers, that would probably be on the early

side. We said 30, it's probably on the late side. If you pick 20, I think a whole bunch of us

would believe it. In the past one year, quantum computing has surged over 1,880%, Raghetti over 1,500

percent, and D-Wave quantum has gained nearly 985%. IonQ is soared about 290% while ARCID has jumped nearly 230%.

In today's trading, most of the action is back and forth in the bond market.

The 4.7% level is looking like a battleground for the 10-year treasury yield

after it touched a 52-week high of 4.75% and saw strong resistance there.

The yield is up nearly 100 basis points since September, a historically anomalous move during a Fed-rate

cutting cycle.

Muhammad Alarion, Chief Economic Advisor at Allianz, says the tenure could well spend quite a bit of

2025 in the 4.75 to 5% range in a year marked by

volatility, the need for more bar-belled investment portfolios, and bottom-up name-driven, rather

than market or theme-driven, investing. On the economic front, there are more mixed signals on

the labor market ahead of Friday's payrolls report. Weekly initial jobless claims, out a day

early due to the

markets being closed on Thursday, dropped unexpectedly to 201,000 versus the 214,000 consensus.

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