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

Good afternoon. Today is Wednesday, February 5th, and I'm your host, Kim Kong. Our top story so far.

USPS does a rapid U-turn. The United States Postal Service announced on Wednesday that it will continue accepting

all international inbound mail and packages from China and Hong Kong.

That comes just hours after it had suspended incoming package services for the region.

The USPS that is now working closely with the Customs and Border Protection Agency

to implement an efficient collection mechanism for the new

China tariffs to ensure the least disruption to package delivery. The USPS decision does not impact the

additional 10% sheriff on Chinese goods or the closing of the de minimis trading loophole. The

de minimis trade exemption is a provision in U.S. trade law that allows packages valued

under $800 to enter the U.S. duty-free and with minimal customs inspection.

The exemption, which has been in place since the 1930s, has attracted significant attention

lately due to its widespread use by e-commerce companies, particularly those based in China.

On the economic front, data came in

mixed today, showing strength in the labor market but weakness in the services sector. ADP's measure

of private employment showed payrolls rose by 183,000 in January, topping the consensus of 153,000,

and up from 176,000 in December. The report does have a poor track record of predicting the

official numbers, though. And the ISM services PMI dipped to 52.8 in January from 54 in December,

revised from 54.1, and falling short of the consensus estimate of 54, but the figures marked

the seventh straight month of expansion. Wells Fargo economists noted,

the largest change was in the prices-paid component of the ISM services,

which dropped by four points last month.

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