Trading Catalysts: Retail earnings wave, NVDA, FOMC minutes

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Trading Catalysts: Retail earnings wave, NVDA, FOMC minutes

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Trading Catalysts

Retail earnings wave, NVDA, FOMC

minutes

Retail earnings wave, NVDA, FOMC minutes 18 May 2026

Expectations are high heading into retail earnings, with several names set to report this Equity and Quant Strategy

week. Off‑pricers are expected to reflect resilient demand. On econ, focus this week will United States

be on the April FOMC minutes (Wed), where markets anticipate limited scope for rate Paula Andrea Soto, CFA >>

cuts. The AI theme remains central, with NVIDIA earnings also due on Wednesday. As AI LatAm Equity Strategist

momentum continues to build, our derivatives team favors volatility‑based hedges amid Merrill+55 11Lynch2188 (Brazil)4226

the ongoing equity rally. The BofA desk highlights several baskets tied to this week’s Thomas (T.J.) Thornton

catalysts, including Iran de‑escalation/escalation, AI, and retail earnings (see page 2). Head of Research Marketing

BofAS

US Economics: Minutes to indicate limited room for cuts +1 646 855 2449 Economics

The April FOMC minutes (Wed) will be the key focus this week. Our economics team Stephen Juneau

expects the minutes to indicate that incoming Chair Kevin Warsh inherits a Fed with USBofASEconomist

limited appetite to cut, with the discussion likely centered on persistent inflation and Equity & Quant Strategy

upside risks from Iran, despite some acknowledgment of labor market downside risks. Savita Subramanian

April retail sales last week suggest the consumer remains resilient, with higher gas EquityBofAS & Quant Strategist

prices not yet materially weighing on spending. In addition, BAC aggregated credit and Victoria Roloff

debit card data points to continued solid consumption through the week ending May 9.