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

Good afternoon, today is Monday, May 20th, and I'm your host Kim Khan. Our top story so far.

Target announced that it will lower everyday regular prices on approximately 5,000 frequently

shopped items across its largest assortment. The retailer has already

reduced prices on about 1500 items with thousands of more price cuts planned to take effect

over the course of the summer.

categories with price cuts include milk, meat, bread, soda, fresh fruit, vegetables,

snacks, yogurt, peanut butter, coffee, diapers, paper towels, pet food, and more.

Target noted that it routinely adjusts its prices to ensure it is competitive within the

market in which it does business.

It also maintained that the new price reductions are on top of the retailer's everyday low prices

The new pricing strategy will be watched closely by other retailers such as Walmart

Costco dollar general dollar tree and Kroger. Executive

Rick Gomez said, we know consumers are feeling pressured to make the

most of their budget and Target is here to help them save more.

In today's trading, stocks are building a little

momentum led by growth stocks. The NASDAQ is leading the major averages up more than half a

percent. Infotech is the best performing sector.

Chip stocks rallied as traders positioned into

Invidia earnings on Wednesday.

Several analysts raised their price targets on

NVIDIA heading into its report.

...