NVDA
NVIDIA once again surpassed revenue expectations, however Wall Street is unimpressed by what could be considered a near-perfect quarter.
NVIDIA Corporation reported first-quarter revenue of $81.6 billion, up 85% year over year, led by Data Center sales of $75.25 billion, which jumped 92%. GAAP net income came in at $58.3 billion, with adjusted EPS of $1.87. The company generated approximately $48.6 billion in free cash flow and posted a gross margin of roughly 75%. NVIDIA expects second-quarter revenue of around $91 billion and announced an $80 billion share buyback authorization.
XAUUSD – Gold
Gold fell toward $4,500 an ounce on Thursday as hopes for a US-Iran peace deal faded following reports that Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued a directive ordering the country’s uranium to remain on Iranian soil.
Also, minutes from the Federal Reserve’s latest policy meeting showed that most officials believe a rate increase this year could still be warranted if inflation remains above the Fed’s 2% target.
Gold Technicals

Bitcoin faces downside risk as leverage builds near $76K support
Bitcoin has remained under pressure below $78,000 after four straight days of ETF outflows, and a derivatives flush earlier this week which has continued to weigh on market sentiment.
Early-week liquidations have continued to influence positioning across derivatives markets.
According to Bitfinex analysts, crypto futures markets saw at least $657 million in liquidations on Monday, with long positions accounting for roughly $584 million of that total.

This triggered the oil blip/ripple effect correlations cited below

(Right click on any image (or chart) to open a full screen in a new tab)
The dollar is trading firmer after failing to follow through on yesterday’s weaker closes in a market where the focus is split between the US-Iran stalemate and central bank response to rising inflation.
Looking at the table, AUD is underperforming. EURUSD 1.16, USDJPY 159 and GBPUSD 1.34 remain pivota

Newsquawk Daily US Opening News – 21st May 2026

(Right click on any image (or chart) to open a full screen in a new tab)
What is in-appropriate is that the suits think their meddling is appropriate

Reuters – BOJ policymaker calls for rate hike, warns of war-led inflation overshoot
Asia Pacificcategory · May 20, 2026 · 3 hours agoThe Bank of Japan should raise interest rates at an “appropriate pace” as price pressures from the Middle East war may push underlying inflation above its 2% target, its board member Junko Koeda said, bolstering the case for a rate hike as soon as June.

COMING UP: Data: Global S&P PMIs Flash (May), Japanese Trade Balance (Apr), Australian Employment Report (Apr), US Initial Jobless Claims (May/16), EU Consumer Confidence Flash (May). Events: Banxico Minutes (May). Speakers: BoJ’s Koeda; BoE’s Taylor, Bailey; ECB’s Elderson; Fed’s Barkin. Supply: Spain, France, the UK. Earnings: Walmart, Deere.
Nvidia Earnings Face AI Rally Test After 60% Chip Index Surge
Nvidia NVDA is heading into a high-stakes earnings report as investors look for confirmation that the AI semiconductor rally still has room to run. The company reports after Wednesday’s market close
Nvidia shares are up 18% in 2026 and 34% from their late-March low, despite losing 6.4% over the last three sessions.

FOMC Minutes: Many would have preferred to remove easing bias from policy statement
FOMC meeting minutes from the April 28 – 29 Federal Reserve interest rate decision meeting
The vote at the meeting was 8-4 with 1 voting to cut rates by 25 basis points (Stephen Miran who has resigned from the fed to make room for new Fed Chair Warsh). Three voted to take out the easing bias.
Majority of participants said some policy firming would likely become appropriate if inflation were to continue above 2%.
Almost all participants supported maintaining fed funds target range at this meeting.
Several participants indicated rate cuts would be warranted later this year in a scenario in which conflict was resolved soon and inflation pressures dissipated.
Some participants were concerned about scenario in which elevated energy prices and tariffs could result in inflation pressures becoming embedded more broadly.
Fed staff economic Outlook projections was slightly stronger than for March meeting. Vote at the meeting was eight
© 2024 Global View
