Amazon Guides Light, AI Stocks Sell Off, Fed on Deck
Amazon reported strong earnings yesterday that showed remarkable growth in AWS which includes their cloud and AI business but those results have been offset by lighter than expected guidance for the current quarter leading to a muted reaction in the stock. Elsewhere AI darlings AMD and SMCI are both selling off this morning following earnings that failed to meet the increasingly softy expectations for anything pertaining to Artificial Intelligence. Now the market pins it's hopes on the Federal Reserve and Jerome Powell who will speak later today following the conclusion of the FOMC meeting.
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