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

Good afternoon. Today is Tuesday, February 4th, and I'm your host, Kim Khan. Our top story so far,

if you're a Waffle House person like Roy Tin Cup McAvoy, this is going to sting. Egg prices continue to soar to unprecedented levels.

The average cost of a dozen Grade A large eggs was 415 in December,

according to the Bureau of Labor Statistics,

but much higher prices are being reported in certain cities,

particularly on the East Coast and West Coast.

Waffle House has added a temporary surcharge of 50 cents

per egg at its 2,100 or so locations due to the elevated egg prices. Consumers and restaurants

are being forced to make difficult decisions, the company said. By far the most significant factor

driving up egg prices is the ongoing outbreak of the highly pathogenic avian influenza, also

known as bird flu. This deadly strain of H5N1 has led to the culling of millions of chickens

since 2022, severely impacting the egg supply chain. As of January 2025, more than 134 million

birds have been affected in the United States, which has thrown

the supply and demand balance out of whack.

The latest guidance from the USDA was that egg prices are likely to push even higher in 2025.

On the economic front, U.S. job openings fell to $7.6 million in December, lower than the

$8 million consensus, and down from $8.156 million in November, revised from the 8 million consensus, and down from 8.156 million in November,

revised from 8.096 million, according to the Bureau of Labor Statistics. The quits and hiring

rates stayed steady. Raymond James, chief economist Eugenio Alamund says, today's report is yet

another indication that labor demand is softening but not collapsing,

which is consistent with our view of a slowing economy and job market.

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