Still waiting days for your payout? That’s adorable. At Lark Funding, traders cash out in under 6 hours — no red tape, no excuses. Just clean spreads, lightning-fast payouts, and up to 90% profit splits.

Use code MAY10 for 10% off and FREE weekend holding.

☕️ GM Munchers! Markets were choppy yesterday — kind of like when I tell my wife I’m ‘just checking one more chart’ before bed.

On today’s menu:

• 📉 Palantir Collapses, US-UK Trade Deal & Trump Meet Carney

• 🥇 Gold's Meteoric Rise: The Shining Star of 2025's Market

• 📊 The Market's Mood Swings: Why Sentiment Rules All

• 🤯 New Hampshire Creates A Bitcoin Reserve

• 🧠 How To Think Like Charlie Munger

Yesterday’s numbers:

BREAKING NEWS

📉 Palantir Collapses, US-UK Trade Deal & Trump Meet Carney

If you were hoping for a chill Tuesday to sneak in your first golf round, the market had other plans — it was basically yelling “fore!” and firing curveballs all day.

Here’s what you need to know:

📉 Palantir’s Collapse

The company worth hundreds of billions of dollars that nobody actually knows what they do just vaporized tens of billions in market cap yesterday.

Palantir stock plunged over 12%, and here’s the kicker: this happened even though their first-quarter revenue beat Wall Street expectations. Why? Because investors zeroed in on a 5% drop in international sales — especially in Europe, where Palantir’s revenue share slid from 16% to 10% year-over-year.

CEO Alex Karp summed it up bluntly: “Europe doesn’t get AI yet.” (Translation: Sorry, Brussels, you’re not ready for the robot revolution.)

🇬🇧 US-UK Deal Teased

With Trump saying trade talks with China are dead in the water this week, attention has turned across the Atlantic — because, God forbid, Americans go without their crumpets and Bentleys.

The US and UK are reportedly close to a deal that would lower quotas on UK cars and steel. Here’s what’s in play:

• Lower-tariff quotas for UK steel and car exports

• Possible cuts to those infamous Trump-era 25% tariffs on steel and autos

• UK concessions on digital services taxes and US agricultural exports (but a hard no on chlorine-washed chicken — yes, that’s a real sticking point)

For the UK, this matters big-time: luxury car brands like Bentley and Jaguar Land Rover are taking it on the chin under current tariffs, with “severe” impacts on exports.

But here’s the catch — no one really knows which tariffs the US will actually keep. The UK still faces a 10% overall rate and 25% on autos and steel, and this deal is light on details.

💡 Trader Takeaway: Despite the headlines, the GBP/USD reaction has been surprisingly muted.

Markets are waiting for hard numbers, not just vague promises — because at the end of the day, traders want tariffs in black and white, not just a diplomatic tea party.

🇨🇦 Canada’s New Prime Minister Meets Trump

It’s not just the Brits praying for smoother vibes with the U.S.

Yesterday, Mark Carney, Canada’s newly minted prime minister, met with Trump — and while Liberal supporters were hoping for some elbows-up, fiery energy, Carney delivered… well, none of that.

The good news? Carney didn’t get “Zelensky’d” (aka, no public beatdown).

The bad news? CAD bulls didn’t get a spark, and CAD bears didn’t get a breakdown either. It was a whole lot of status quo.

Carney summed it up blandly: “I think we established a good basis today.” Translation: everyone smiled, nodded, and punted the real work to the next G7.

💡 Trader Takeaway:

While the US dollar sold off broadly, markets are now getting twitchy over the lack of tariff progress. A nine-day stock rally has arguably emboldened Trump to push harder on tariffs, making deals with allies like Canada even messier.

For now, no tariff decisions, no big resets — just complex talks, vague progress, and (apparently) a request for Trump to stop calling Canada “the 51st state.”

BROUGHT TO YOU BY

🤔 Is Instant Funding Worth It?

We all know by now (at least you should) that the smartest way to scale in trading is with prop firms.

Pass a challenge, get access to larger capital, and keep 80–90% of your profits.

But… what if you could skip the challenge entirely?
What if you could start earning today — no hoops, no waiting?

With Lark Funding’s Instant Funding accounts, that’s exactly what you get:

✅ 8% Max Drawdown
✅ No Consistency Rules
✅ No Minimum Trading Days
✅ No News Restrictions
✅ Up To 90% Rewards

No gimmicks. No fake promises. Just raw, immediate trading power.

👉 Ready to skip the wait? Use code MAY10 for 10% off at larkfunding.com

COMMODITIES

🚀 Gold's Meteoric Rise: The Shining Star of 2025's Market

Here's a jaw-dropping reality check: Gold has surged an eye-popping 30% since January, while the once-mighty S&P 500 is nursing a 4% loss.

That's not just a gap—it's a 34% performance canyon that has created one of the most lucrative trading opportunities in recent memory.

For those watching their gold positions multiply, it's been champagne and celebrations. For everyone else? An agonizing front-row seat to the wealth transfer of the year.

But don't beat yourself up if you've missed the golden rocket so far. Understanding why this massive move happened is your ticket to catching the next potential leg—or knowing when this glittering party might finally end.

The Perfect Storm Powering Gold's Unstoppable Ascent

This isn't your typical market rotation. Gold's extraordinary performance stems from a rare convergence of five powerful forces creating what traders are calling "the perfect storm":

1. Geopolitical Chaos: Middle East conflicts and US-China tensions have sent institutional capital flooding into gold's protective embrace.

2. Central Bank Appetite: Asian central banks have transformed from occasional buyers to hungry buyers, diversifying away from the dollar.

3. Yield Dynamics Shift: The Fed's pivot toward potential rate cuts has crushed real yields, making non-yielding gold suddenly more attractive.

4. Technical Momentum: Breaking through its $3,000 ceiling unleashed a self-reinforcing cycle as momentum traders and algorithms piled in, amplifying every upward move and converting skeptics into believers.

5. Equity Rotation: As the S&P 500 buckles under tariff wars and growth concerns, institutional investors have actively redirected capital toward alternatives—with gold capturing the lion's share of these flows.

What Happens Next? Potential Scenarios for Gold's Future

With gold already up 30%, the million-dollar question we’re asking ourselves at Pip Munch is: has the easy money already been made, or is this just the beginning of a multi-year bull market?

Our 18-year-old intern told us he sees three possible scenarios:

Scenario 1: The Melt-Up Continues If geopolitical tensions escalate further and economic data continues weakening, gold could easily add another 15-20% before year-end. Key support level to watch: $3,000 per ounce.

Scenario 2: The Consolidation Phase After such explosive gains, a period of sideways chop between $3,000-$3,400 would be technically healthy and create new entry points for those who missed the initial surge.

Scenario 3: The Correction If trade deals get announced or the Fed reverses course on rate cuts, we could see a sharp 10-15% correction. However, if central banks keep buying, it could provide support around previous resistance levels.

BIG PICTURE

📊 The Market's Mood Swings: Why Sentiment Rules All

Think trading is only about staring at the charts? Cute. The real puppet master is something far more powerful (and unpredictable): market sentiment.

While rookies obsess over candlestick patterns and TradingView indicators, pros track something more volatile – the collective emotional state of investors and algorithms that shifts faster than your coffee cools.

We're navigating a minefield of "sentiment bombs": geopolitical tensions, U.S.-China drama, tariff threats, and Fed whispers. When Trump tweets or Powell clears his throat, markets don't respect your trendlines – they react based on pure vibes.

Case in point: The S&P's recent nine-day streak wasn't about improving fundamentals – it was traders high on trade talk optimism. Then one presidential weekend rant about tariffs, and futures collapsed. That's sentiment in action – turning headlines into price swings.

👉️ Pro Tip: Charts matter, but narratives matter more.

The stories we tell ourselves shape price action more than any technical setup. It's why EUR/USD can ignore the 200-day moving average and move hundreds of pips with zero technical justification.

Even Buffett watches sentiment. Why? Because markets trade tomorrow's expectations, not today's reality.

Try this: After market close, note how the market felt today. Nervous? Exuberant? Confused? Over time, you'll develop a sixth sense for emotional undercurrents – where the real edge hides.

🚀 Pre-Market Fuel

1. 🚀 New Hampshire becomes the first U.S. state to establish a Bitcoin reserve.

2. 🤑 Investors are flooding into the S&P 500 with the biggest inflows in 15 years.

3. 😬 The government has started garnishing the wages of 5.3 million people who have defaulted on their student debt.

4. 🧠 How to think clearly, according to Charlie Munger.

5. 💪 Need some motivation today?

🍪 Munchy Memes

Share Pip Munch

Chances are you have some trading friends. Why don’t you be a pal, share Pip Munch and earn some goodies for it?

You currently have 0 referrals, only 1 away from receiving The Trading Plan That Helped Me Pass 4 $100,000 FTMO Challenges.

Or copy and paste this link to others: https://pipmunch.com/subscribe?ref=PLACEHOLDER