Daily Market Update: Nvidia Earnings Beat but Shares Fall, Bitcoin Holds Support

TLDR

• Nvidia beat earnings expectations but shares fell roughly 1% after hours as investors wanted stronger demand signals
• SpaceX filed its S-1 registration statement with the SEC, giving a rare look at the company’s financials ahead of a June investor road show
• Bitcoin edged up 0.8% to around $77,576 but has lost momentum since topping $82,000 last week following U.S. Senate legislation progress
• Federal Reserve minutes hinted that rate hikes could return if inflation stays above 2%, putting pressure on crypto markets
• A European banking consortium called Qivalis added 25 new members, now totaling 37 institutions across 15 countries, aiming to launch a euro-pegged stablecoin

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US stock futures slipped on Thursday after Nvidia’s earnings report failed to deliver the blowout numbers investors were hoping for. Meanwhile, Bitcoin held above $77,000 as crypto markets stayed under pressure from rising rate expectations.

Nvidia Beats But Markets Want More

Nvidia reported earnings after the bell, beating analyst estimates on both revenue and profit. The company also gave an upbeat forecast for chip sales.

Nvidia Earnings Smash Expectations 🚀

Nvidia $NVDA delivered another huge AI-driven quarter, with revenue, EPS, data center sales and guidance all coming in ahead of Wall Street forecasts ⚡ pic.twitter.com/BjjN9d80SK

— Wall St Alpha (@WallStAlphaPro) May 21, 2026

But investors had expected an even stronger demand signal for AI chips. Shares fell roughly 1% in after-hours trading.

Futures tied to the Dow Jones Industrial Average slipped 0.2%. The S&P 500 futures fell 0.1%, and Nasdaq 100 futures were down about 0.3%.

Shortly after the Nvidia results landed, SpaceX filed its S-1 registration statement with the SEC. The filing gave a rare public look at the company’s finances.

SpaceX has a road show with investors planned for June, a step that brings the company closer to a public listing.

Earlier in the day, stocks had climbed after President Trump said the U.S. was in the “final stages” of negotiations with Iran. Oil prices fell on that news.

Earnings season continues to wind down, with Walmart, Ross Stores, Workday, and Zoom set to report on Thursday.

Bitcoin Stabilizes as Rate Fears Cap Gains

Bitcoin rose 0.8% to around $77,576 on Wednesday, looking to end a five-day losing streak.

The world’s largest cryptocurrency had topped $82,000 last week after the U.S. Senate Banking Committee advanced key crypto legislation. Since then, it has steadily pulled back.

Analyst Dessislava Ianeva of Nexo Dispatch noted that spot demand has softened since mid-May, with net-selling running for nine consecutive sessions through May 19. She said daily volumes remain thin.

Federal Reserve minutes released Wednesday showed that most committee members believe rate hikes would likely become appropriate if inflation stays above 2%.

Recent inflation data has shown the impact of rising oil prices. Annual consumer price growth hit its highest level since May 2023, and producer price growth logged its biggest increase since December 2022.

Higher interest rates tend to weigh on speculative assets like cryptocurrencies.

Most other major cryptocurrencies were slightly higher. Ethereum rose 0.8%, XRP gained 0.7%, and Solana added 2%.

Separately, a European banking consortium called Qivalis added 25 new members, bringing its total to 37 financial institutions across 15 countries. The group includes ING, BNP Paribas, BBVA, and Nordea.

Qivalis plans to launch a euro-pegged stablecoin later this year. The group is positioning the project as a European alternative to U.S. dominance in digital payments.