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Gold Diggers > AI Gold Ahead of FOMC

So far today, we see three key themes.  First, while Microsoft (MSFT) was the latest stock to raise concerns that spending on artificial intelligence was slow to result in profitability, investors greatly preferred to hear from AMD that the spending nonetheless continues apace.  Second, the relationship between tech stocks and the yen reversed, as the yen rallied sharply after the Bank of Japan raised rates overnight.  Third, none of the month-end vibe shift could be occurring if investors had serious concerns about today’s FOMC meeting.

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