Morning Juice – US Session Prep (20th May)

Sentiment
Stocks regained ground as the bond selloff calmed and traders awaited earnings from Nvidia, the world’s most valuable firm and a pillar of the artificial intelligence trade. The S&P 500 was poised to snap a three-day losing streak, with futures up 0.3%. Nasdaq 100 contracts rose 0.6%. Bond rates in the United States and Europe fell from multiyear highs as speculators reduced their aggressive bets on interest rate increases this year. Brent declined 2% to almost $109 per barrel. Nvidia will provide a much-anticipated update on the condition of the AI economy when it reports after the close, while revenues are expected to climb by 80%, investors will be more interested in Nvidia’s plans for scaling up manufacturing and fending off competitors. Following the results, options traders expect Nvidia shares to move by around 5.5% in either direction. With the report coming at a time when the chipmakers’ blistering surge is cooling, well-received earnings might provide the sector with new energy and help drive global indices higher.

Docket
10:30 ET
US Weekly EIA Crude Oil Inventories
Forecast: -2.5M | Prior: -4.306M | Range: -1M / -4.217M

13:00 ET
US sells $16 bln 20-Year Bonds
Prior High Yield:  4.883%
Prior Bid-to-cover: 2.680

14:00 ET
FOMC Meeting Minutes for the April Meeting

Speakers
09:15 ET
Fed’s Barr speaks on consumer financial health metrics at the FHN EMERGE 2026 Conference
Text: Yes. Q&A: No

BoE’s Governor Bailey and MPC testify to lawmakers at the Parliament Treasury Committee on the April Monetary Policy Report

11:00 ET
Trump delivers a Commencement Address to the United States Coast Guard Academy

14:10 ET
ECB’s Sleijpen Speaks

Earnings
16:30 ET
Nvidia Q1 2027 Earnings
Est. EPS: $1.77
Est. Rev: $79.01B

Good luck!