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

Good afternoon, today is Thursday, June 12th, and I'm your host, Kim Kahn.

Our top story so far.

Netflix co-CEO Greg Peters believes Warner Brothers' discovery's decision to split into two

is an indicator of a

broader shakeout happening in the U.S. media landscape where streaming and on-demand platforms

are currently prevailing over traditional TV. In an interview with Bloomberg, Peter said,

everything is moving to streaming, everything is moving to on-demand. There's going to be a

period of shakeout and transition

associated with that. They have to rationalize their business for that reality of streaming demand,

he added. We're definitely seeing the results of that. When asked whether legacy players in the

market will merge, he said, there is an inevitable logic to that. On the economic front, the producer price index rose 0.1% in July, less than the 0.2 increase expected,

and stronger than the prior month's 0.2% decrease, which was revised from down 0.5%.

That translates to an annual gain of 2.6%, which matched the consensus and accelerated from 2.5% in April.

Excluding volatile food and energy prices, core PPI ticked up 0.1% from a month earlier,

compared with the 0.3% consensus, and April's 0.2% drop revised from a drop of 0.4%.

On a year-on-year basis, the core measure gained 3% versus 3.1% expected and 3.2% prior.

Pantheon macro says the CPI and PPI data imply the core PCE deflator rose by a mere 0.12% in May.

Admittedly, an even smaller 0.08% increase a year ago implies that core PC inflation

probably edged up to 2.6% from 2.5% in April. Nonetheless, the near-term trend remains

favorable, enabling the FOMC to signal next week that it still intends to begin easing policy

again later this year. But they also warned the deflator will

...