This is a marquee week for both the equity tape and the digital-asset complex. Nvidia reports Wednesday after the bell — the single most consequential earnings print on the calendar this quarter. The Federal Reserve releases the minutes from its April meeting the same afternoon. And in the background, SWIFT’s hard deadline for ISO 20022 compliance moves another week closer, putting fresh focus on the small group of cryptocurrencies built to plug straight into the rails the global banking system is migrating to.
Here is what to watch, day by day.
Earnings: the week belongs to Nvidia
Wednesday after the close is the main event. Nvidia (NVDA) reports fiscal Q1 2027 with the conference call at 5:00 p.m. ET. Visible Alpha consensus puts total revenue at roughly $78.5 billion for the quarter, with Wall Street looking for $1.77 in earnings per share — a 78 percent year-over-year revenue gain. The Data Center segment alone is now expected to print around $72.8 billion, a number that would have sounded fictional eighteen months ago.
The reaction in NVDA shares typically sets the tone for the entire AI-exposed corner of the NASDAQ for days. We will publish a full preview in this afternoon’s edition.
Also reporting Wednesday after the close: Copart (CPRT) and Synopsys (SNPS) — the latter a useful read on semiconductor design activity heading into the back half of the year.
Thursday after the close brings a heavy slate of growth names: Autodesk (ADSK), Intuit (INTU), Marvell Technology (MRVL), and Ross Stores (ROST). Marvell in particular is worth watching as a second-derivative play on AI infrastructure demand — if Nvidia’s order book is as deep as expected, Marvell’s optical and custom-silicon exposure should track higher with it.
Policy: April FOMC minutes Wednesday afternoon
The Federal Reserve releases the minutes from its April 28-29 FOMC meeting at 2:00 p.m. ET Wednesday. The market will be reading them for two things specifically: how broad the consensus is on the current rate path, and how policymakers are framing the tension between sticky services inflation and the bond market’s recent wobble.
The same afternoon, the Senior Loan Officer Opinion Survey on Bank Lending Practices is released — a quieter document that nonetheless tells you what credit conditions are actually doing on the ground.
Other notable calendar items:
- Monday: New Residential Construction (8:30 a.m. ET) and the NAR Pending Home Sales Index — both feed into the broader housing-and-rates story.
- Thursday: Weekly Initial Jobless Claims, the Philadelphia Fed Manufacturing Survey, and the Weekly Economic Index.
- Friday: University of Michigan Consumer Sentiment, final May reading.
If any of these run hot or cold relative to consensus, the bond market reaction will reach crypto within minutes. That is now the rule, not the exception.
ISO 20022: the deadline that is starting to matter
SWIFT — the global interbank messaging network that handles the vast majority of cross-border payments — will stop supporting unstructured address data in November 2026. After that date, non-compliant payments risk failing to clear. SWIFT is already integrating the MX (ISO 20022) standard into roughly 82 percent of its message traffic this year. The runway is short.
This matters for a specific, small set of cryptocurrencies. Eight digital assets are currently recognized as ISO 20022-compliant: XRP, Stellar (XLM), XDC Network, Cardano (ADA), Algorand (ALGO), IOTA, Hedera (HBAR), and Quant (QNT). These are the projects designed from inception (or retrofitted) to interoperate with the messaging standards the global banking system is adopting. Whether they ultimately capture institutional payment flow is an open question. That they are positioned to even compete for it is what makes them structurally distinct from the rest of the crypto market.
Two specific developments worth tracking this week:
Ripple at the standards table. Ripple is now a formal member of the ISO 20022 Registration Management Group, meaning XRP-related working groups have direct input into how message definitions and token identifiers get written. That is a meaningful seat. We will cover the implications in tomorrow’s crypto roundup.
Hedera and SWIFT. Hedera Hashgraph has been certified as ready to connect with ISO 20022 systems, and prior reporting indicates SWIFT selected Hedera to help align with the standard. Any incremental news on that partnership tends to move HBAR more than any technical chart pattern does.
The setup, in one paragraph
The week is built around one earnings print, one Fed document, and one slow-burn institutional shift. If Nvidia beats and guides above, the AI trade reasserts itself and broader risk assets — including the larger crypto names — get a tailwind. If the FOMC minutes read hawkish, the bond market sells off and that tailwind gets muted regardless of what Nvidia says. And underneath both, the ISO 20022 compliant cryptocurrencies remain a structurally interesting bet that does not need a hot earnings season to play out.
Three windows to circle on the calendar: Wednesday 2:00 p.m. ET (FOMC minutes), Wednesday 4:20 p.m. ET (Nvidia print), and Wednesday 5:00 p.m. ET (the call). The forty minutes in between will set the tone for the rest of the week.