Teflon AI

FOMC this FOMC that...AI is the new chief

Judging if Powell was interpreted as hawkish or not by the price action in SPX is basically a derivative on AI. The index closed small green, but out of that, NVDA contributed to almost 6 points of the index. SPX excluding the biggest AI plays would have been down close to 10 points yesterday...so was FOMC hawkish or not? Chart shows NVDA; SPX, NYFANG YTD.