Welcome to Seeking Office Wall Street Lunch.

Our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, September 18th, and I'm your host, Kim Khan.

Our top story so far on today's session.

The UK's antitrust agency laid out seven new principles to regulate artificial intelligence

in an effort to protect consumers and guide markets.

The Competition in Markets Authority said recent developments in foundation models and their

rapid adoption across several user applications such as ChatGPT and Office 365 co-pilot, highlight their

potential to spur innovation and economic growth and foundation models have the

potential to transform how we live and work as well as a range of industries.

In a statement, CMA CEO Sarah Cardell said the speed that AI is being incorporated into everyday life is dramatic.

The seven principles include accountability, access, diversity, choice, flexibility, fair dealing, and transparency.

As part of the process, the CMA said it would talk to a number of people and organizations to get their input into the matter, including Google, Meta platforms,

Microsoft, NVIDIA, Anthropic, and Open AI.

In today's trading, stocks are struggling for firm direction, with traders likely hesitant about big bets

before the Fed has its say. The SMT, Dow, and NASDAQ are all less than 0.1% from the unchanged mark.

On the economic front, the NAHB Wells Fargo Housing

Market Index fell to 45 in September versus the consensus of 50. That's down

from 50 in August as mortgage rates persist above 7%.

The 5 point decline in September follows a 6 point drop in August.

NA HB chair Alice Huey says the two month decline in builder sentiment coincides

with when mortgage rates jumped above 7% and significantly eroded by our

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