Bitget UEX Daily Report | Super IPO window for US stocks opens; Nvidia's earnings report exceeds expectations; oil prices drop due to easing tensions between the US and Iran (May 21, 2026)

I. Hot News

Federal Reserve Dynamics The Federal Reserve's May meeting minutes release hawkish signals

• Most officials support raising interest rates while inflation remains high and tend to remove accommodative language from policy statements.
• After the minutes were released, U.S. Treasury yields fell, indicating that the market has partially digested the hawkish stance.
• Market Impact: Expectations for interest rate cuts are further delayed in the short term, which may support the dollar and suppress high-valuation assets, but if the oil crisis worsens, U.S. Treasury yields may face upward risks.

International Commodities Cooling U.S.-Iran conflict lowers oil prices

• Trump expressed willingness to wait a few more days to facilitate an agreement and avoid war; Iran stated it would continue negotiations under distrust.
• WTI crude oil fell about 5.5% during the day, while Brent crude dropped over 7% at one point.
• Market Impact: Rising expectations for peace in the Middle East alleviate energy supply concerns, benefiting stock market risk appetite, but gold is supported as the easing of conflict reduces the probability of interest rate hikes.

Macroeconomic Policy SpaceX officially files for IPO, OpenAI may follow this week

• SpaceX submitted S-1, planning to list on Nasdaq (ticker SPCX), with a valuation exceeding $2 trillion and plans to raise up to $75 billion; Q1 revenue was $4.69 billion but net loss was $4.28 billion.
• OpenAI aims for a September IPO, with a valuation exceeding $1 trillion, having partnered with Goldman Sachs and others, intending to get ahead of Anthropic.
• Market Impact: The super IPO window in the AI and space sectors opens, attracting massive funds and testing the market's ability to digest high-valuation technology.

II. Market Review

Commodity & Forex Performance

• Spot Gold: -0.03%, latest around $4,544/ounce.
• Spot Silver: -0.11%, latest around $76/ounce.
• WTI Crude Oil: +1.3%, latest around $99/barrel.
• Brent Crude Oil: +1.03%, latest around $106/barrel.
• Dollar Index: -0.01%, at 99.13.

Cryptocurrency Performance

• BTC: +1.35%, around $77,000.
• ETH: +1.31%, priced around $2,130.
• Total Cryptocurrency Market Cap: +1.2%, around $2.67 trillion.
• Market Liquidation Situation: Total liquidation in 24H was about $235 million, with $153 million in short liquidations.
• Bitget BTC/USDT Liquidation Map: Current BTC price is about $77,699, with significant high-leverage short liquidation pressure in the $77,000-$78,500 range. If it continues to rise, it may trigger further short squeezes. Meanwhile, there is a dense long leverage zone around $79,000-$80,700, and short-term caution is needed for large-scale long and short liquidations after price spikes.

• Spot ETF Net Inflow/Outflow: BTC spot ETF saw a net outflow of about $9 million yesterday, with a total net outflow of $1.279 billion over four days.
• BTC Inflow/Outflow: Yesterday's spot net inflow was $46 million, with a contract net inflow of $768 million.

U.S. Stock Index Performance

• Dow Jones: Up 1.31%, at 50,009.35 points, rebounding continuously and returning above 50,000 points.
• S&P 500: Up 1.08%, at 7,432.97 points, benefiting from technology and consumer discretionary drives.
• Nasdaq: Up 1.54%, at 26,270.36 points, led by the semiconductor and technology sectors.

Tech Giants Dynamics

• Apple (AAPL): Up about 1.10%, closing at $302.25, hitting a new high, benefiting from overall improved tech sentiment.
• Microsoft (MSFT): Up about 0.87%, closing at $421.06, with stable support from AI cloud business.
• Amazon (AMZN): Up about 2.19%, closing at $265.01, with strong performance in e-commerce and AWS.
• Nvidia (NVDA): Up about 1.30% during the day, closing at $223.47, with slight fluctuations after earnings exceeded expectations.
• Tesla (TSLA): Up about 3.25%, closing at $417.26, significantly boosted by FSD-related news.
• Meta (META): Up about 0.41%, closing at $605.06, with robust advertising business.
• Alphabet (GOOGL): Up about 0.32%, closing at $388.91, with moderate follow-up gains.

Core Reason: The significant drop in oil prices and the decline in U.S. Treasury yields jointly improve risk appetite, while Nvidia's strong earnings further consolidate confidence in the AI sector, driving a collective rebound among tech giants.

Sector Movement Observation Semiconductor/CPU Concept up over 4%

• Representative stocks: Arm Holdings up 15.05%, AMD up 8.1%, Intel up 7.36%.
• Driving factors: Strong demand for AI computing power, Nvidia's earnings catalyzing optimistic expectations for the chip supply chain.

Optical Communication/Storage Concept strong

• Representative stocks: Astera Labs up 17.69%, Micron Technology up 4.76%.
• Driving factors: Expansion of data centers driving demand for related hardware.

III. In-Depth Analysis of U.S. Stocks

1. Nvidia (NVDA) - Earnings Report Exceeds Expectations Event Overview: After the market close on May 20, Nvidia reported Q1 revenue of $8.16 billion (significantly exceeding expectations), with data center revenue of $7.52 billion showing substantial year-over-year growth. The company authorized an additional $80 billion for share buybacks and increased dividends, while also expecting to start shipping the Vera Rubin platform in the second half of the year. The stock price fluctuated after the earnings report. Market Interpretation: Institutions generally believe that the strong performance and forward guidance solidify Nvidia's leading position in AI chips. Although historical data shows that stock prices often retreat the day after earnings reports, the long-term growth logic remains unchanged. Investment Insight: The AI capital expenditure cycle is still in its early stages, and investors can pay attention to subsequent demand validation, but should be wary of high valuation volatility risks.

2. SpaceX - Officially Files for IPO Event Overview: SpaceX submitted S-1 to the SEC, planning to list with a valuation exceeding $2 trillion, with Musk maintaining control through super voting rights. The company's Starlink user growth is strong, but AI business losses and Starship risks are prominent. Market Interpretation: This move opens the super IPO window for U.S. stocks, with market attention on governance structure and valuation sustainability. Investment Insight: The increase in liquidity post-IPO will test institutions' acceptance of dual-class shares, with a long-term positive outlook on the space economy.

3. Intuit (INTU) - Q3 Growth Slows and Announces Layoffs Event Overview: Intuit reported Q3 revenue of $8.56 billion, slightly below expectations, and announced a 17% reduction in full-time employees, leading to a 13% drop in stock price after hours. Market Interpretation: Traditional software companies face transformation pressures amid the AI boom, and cost optimization measures temporarily impact market confidence. Investment Insight: Focus on the progress of integrating AI products; layoffs may pave the way for long-term efficiency improvements, but growth slowdown risks should be monitored.

IV. Cryptocurrency Project Dynamics

1. Strategy CEO Phong Le posted on X platform that 13 of the top 15 institutional shareholders of MSTR increased their holdings in Q1 2026, with total holdings increasing by 27%.

2. Kik founder Ted Livingston's application Flipcash has launched a native stablecoin USDF on Solana using Coinbase's custom stablecoin platform.

3. Bloomberg ETF analyst Eric Balchunas posted on X platform that the SEC chairman is seeking public opinion on prediction market ETFs. The SEC is clearly weighing such products and hopes to gain more time and market feedback. Balchunas commented that prediction market ETFs are a new thing, similar to cryptocurrencies, and the SEC wants to be fully prepared before opening the door.

4. Cryptocurrency journalist Eleanor Terrett disclosed that the Federal Reserve has issued a notice for public comment and proposed rulemaking regarding payment accounts (i.e., "streamlined master accounts"), allowing eligible fintech and cryptocurrency companies to access the Federal Reserve payment system for clearing and settlement. This is the next formal action following the end of the public comment period in February, part of the implementation process for payment accounts by Federal Reserve Governor Christopher Waller.

5. Bloomberg ETF analyst James Seyffart posted on X platform that Morgan Stanley has submitted a revised application for a Solana ETF, with the ticker MSOL, and fees have not yet been disclosed.

6. CryptoQuant research director Julio Moreno stated that as market sentiment turns "extremely pessimistic," Bitcoin's price action is mirroring the bear market pattern of 2022. Technically, Bitcoin's recent rebound faced resistance at the 200-day moving average around $82,400, consistent with the situation in March 2022—when Bitcoin rebounded 43% from its low and reached that moving average before resuming a downward trend. Moreno pointed out that in a bear market, the 200-day moving average is the dividing line between rebound areas and trend continuation, and failing to break through that line is the strongest technical confirmation of a well-structured bear market.

V. Today's Market Calendar

Data Release Schedule

|-------|----|--------------------|------| | 20:30 | U.S. | Initial jobless claims for the week ending May 16 | ⭐⭐⭐ | | 21:45 | U.S. | May S&P Global Manufacturing/Services PMI preliminary values | ⭐⭐⭐⭐ |

Important Event Forecast
May 21 (Thursday)

1. The Federal Reserve releases the minutes of the FOMC meeting from April 28-29 (Powell's last term, signaling the start of the Waller era) ★★★★★
2. Initial jobless claims for the week ending May 16 are released;
3. May S&P Global Manufacturing PMI preliminary value and Services PMI preliminary value are released;
4. Important earnings reports from U.S. stocks: Walmart (WMT), Chinese concept stocks: NIO, NetEase (NTES), Vipshop (VIPS), etc., to be released before the market opens;

May 22 (Friday)

1. The final value of the University of Michigan Consumer Sentiment Index for May is released.

This week's core focus for U.S. stocks: Nvidia's significant earnings release (key test for AI market continuity), Federal Reserve meeting minutes (signal for the end of Powell's term), Google I/O developer conference, potential IPO prospectus release from SpaceX, and multiple important earnings reports from consumer tech and Chinese concept stocks like Walmart, with macro data and corporate events densely packed, expected to significantly increase market volatility.

Institutional Views: Renowned investment bank analysts believe that U.S. stocks have rebounded under the dual influence of falling oil prices and strong tech earnings, but the Federal Reserve's hawkish minutes and the super IPO window will bring volatility. Nvidia's strong performance reinforces the AI theme, and the IPO expectations for SpaceX/OpenAI may further elevate tech valuations. In the cryptocurrency market, institutions continue to allocate Bitcoin through ETFs, but short-term capital flow volatility needs attention. Overall, easing geopolitical tensions benefit risk assets, and it is recommended to focus on economic data to validate the Federal Reserve's path and corporate earnings sustainability, with a medium to long-term positive outlook on AI and new energy-related sectors, but caution is advised regarding the risk of rapid valuation expansion.

Disclaimer: The above content is organized by AI search, with human verification for publication, and does not constitute any investment advice. The data in the text may inevitably contain deviations; please refer to real-time market data.