April 29 Update

WSJ reported that Open AI (ChatGPT) missed revenue forecast and user targets.  The AI narrative has been driving the market so this was a big deal.  Plus Open AI is trying to do an IPO so this is a big deal if accurate.  Not just to AI related stocks but the whole market. 

Widespread selling – from chips and technology stocks to uranium, nuclear, power generation stocks, copper, natural resource stocks, etc. 

Today is Federal Open Market Committee decision on interest rates.  Nothing is expected.  But the statement and press conference. 

Also, ECB, BOE and BOJ have meetings.

Tonight earnings – AMZN, GOOG, MSFT, META  

AAPL tomorrow night.

Oil up $7 mid day – market is down.  But markets would have been down much more a couple of weeks if crude was up this amount.