#FedMeetsNVIDIAMay20: The Two Biggest Market Events of the Week Land on the Same Day. Today is May 20. Two things drop after the close: FOMC minutes from Powell's final meeting, and NVIDIA's Q1 FY2027 earnings. Either one moves markets on its own. Both arriving the same day is the kind of setup traders don't get often. NVIDIA is the easier call to frame. Consensus is $78–79 billion in revenue and $1.77 EPS — a 78% year-over-year gain. Polymarket gives NVIDIA a 90% chance of beating. The company has beaten estimates every quarter this cycle. Meta raised capex guidance to $145 billion. Microsoft announced $190 billion in planned spend for 2026. Hyperscaler demand is not slowing. The real question isn't whether NVIDIA beats — it's whether the beat is big enough to move a stock that's already up 20% year-to-date. Jensen Huang's Vera Rubin shipment timeline and Q2 guidance will matter more than the headline number. The FOMC minutes are the wildcard. Four dissents at Powell's last meeting — one wanting cuts, three wanting to remove the easing bias entirely. Markets have already moved: 30% chance of a hike by December, rate cuts fully priced out for 2026. What the minutes reveal about how deep that hawkish shift runs inside the committee gives Warsh his starting position. If the tone is more aggressive than expected, yields move, the dollar strengthens, and risk assets — including crypto — face pressure regardless of what NVIDIA prints. $78 billion in chips. A divided Fed. One afternoon. Watch both at 5:00 PM ET. #FedMeetsNVIDIAMay20