This morning (PST), markets seem to be fluctuating in light of all the news and quarterly results. PCE for March ticked higher, employment costs rose in Q1, First Republic bank stock dipped again perhaps because talks haven't shown anything better than FDIC receivership yet. Quarterly results were interesting in that Intel reported one of the biggest loss but managed to beat on earnings estimates and Amazon beat on top and bottom line and provided revenue guidance range that has estimates near the midpoint. AWS an Ad revenue exceeded expectation. AI theme continued with Big Tech as AMZN reported that machine learning seems to be helping deliver better results for the customers and the company. However, AMZN warned about growth in its cloud unit that might have taken its stock down.
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