Trading Catalysts Retail Earnings Wave NVDA and FOMC Minutes

This report previews key catalysts for the week of May 18, 2026, including major retail earnings, NVIDIA results, and the April FOMC minutes. BofA analysts highlight consumer resilience and recommend volatility-based hedges to protect against rising US tech bubble risks.

Key Takeaways

• 1.A heavy wave of retail earnings (HD, TJX, TGT, WMT) will test consumer resilience expectations this week.
• 2.NVIDIA (NVDA) earnings on Wednesday remain a central catalyst for the ongoing AI momentum theme.
• 3.April FOMC minutes are expected to reflect a hawkish Fed with limited appetite for rate cuts due to persistent inflation.

Table of Contents

• Trading Catalysts
• US Economics: Minutes to indicate limited room for cuts
• AI momentum builds; Derivs favors volatility-based hedges
• Fund. equity: Expectations high heading into retail earnings
• BofA baskets
• US Econ: Focus on FOMC minutes
• Walmart 1Q results should be solid; value proposition will shine
• Derivs: Lookbackmaxxing for a smarter AI hedge
• Earnings Options Screens
• Data in the week ahead
• Companies reporting this week
• Conference calls

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