☕️ GM Munchers! It’s the start of Q2, I’ve already forgotten my New Year’s resolution, and my wife just reminded me it definitely wasn’t “spend more time watching charts like they’re Netflix.”

On today’s menu:

• 📉 Q1 Ends, and So Does Wall Street’s Sanity

• 🚗 Tesla’s Collapse

• 🤖 OpenAI Just Raised $40 Billion.

• 🤔 A Study of Google’s Stock

• 🚀 A Historic IPO

• 🇺🇲 Trump Vs Stagflation

MARKET OVERVIEW

📉 Q1 Recap: Tech Slumped, Yields Dropped, Gold Flexed

Quarter one is officially in the books… and let’s just say Wall Street won’t be framing this one.

Here’s your trader-friendly recap of the quarter:

🧪 Tech Slumped Hard

The Nasdaq fell 10.4% in Q1 — its biggest quarterly pullback since Q2 of 2022, when it dropped 22.4%. Yikes.

AI darlings aren’t so darling anymore either:

• Nvidia is down 30% from its 52-week high

  

• Tesla dropped 1.7% on the last day of the quarter

  

• Big Tech as a whole? Still trying to reclaim its AI-fueled momentum from last year

Meanwhile, investors fled to safer bets like Coca-Cola and Walmart, which actually rose during the selloff.

📉 Yields Took the Elevator Down

Interest rates cooled off throughout Q1 as traders priced in weaker economic growth and a whole lotta risk-off energy:

Q1 Yield Changes:

• 2-year: -35.3 bps

• 5-year: -42.2 bps

• 10-year: -36.2 bps

• 30-year: -20.6 bps

Lower yields = investors pricing in slower growth, weaker inflation, and possibly some rate cuts later this year.

🥇 Gold Flexed Like It Knew

While stocks and yields stumbled, gold stood tall as the safe-haven champ.

Why?

Traders are spooked by Trump’s tariff threats, a weakening economy, and rising stagflation fears. And when things get scary, gold gets shiny.

📉 S&P Got Smacked

The S&P 500 fell 4.6% in Q1, snapping a five-quarter winning streak.

March alone was brutal, with the index dropping 5.8%, its worst month since December 2022.

At one point on Monday, the index even hit a six-month low, before staging a late-day bounce to close up 0.55% at 5,611.85.

But that rally wasn’t enough to erase the quarter’s pain.

🚨 What’s Got Traders Nervous?

In a word: tariffs.

Trump’s plan for “reciprocal tariffs” — expected Wednesday — is rattling the market.

He’s calling it a “liberation day”, but investors are worried it could slow the economy and even trigger a recession.

Add that to a weak Q1 GDP forecast of just 0.3%, and traders are understandably spooked.

🧠 Big Picture:

Q1 was rough. Plain and simple. Here's what traders are watching heading into Q2:

• Stagflation risk

• Tariff-fueled inflation

• A softening job market

• And Q1 earnings season, which could be ugly

Buckle up. Q2 could be even bumpier.

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STOCKS

🚗 Tesla’s Collapse

If you’re a Tesla shareholder, you might wanna sit down. Or lie down. Or just close your trading app and go touch some grass.

Because Tesla just posted its worst quarter since 2022, falling 36% in Q1.

That’s the third-biggest quarterly drop in the company’s history.

And no, this isn’t some little speed bump. This was more like hitting a pothole, blowing out the tires, and realizing you also forgot to renew your insurance.

So… what happened?

A few things:

• Sales are down. Like, noticeably.

• Tariff fears from Trump’s proposed auto taxes are spooking investors.

• Protests and backlash tied to Musk’s role in the Trump administration aren’t helping either.

• Oh, and Elon’s side gig is all over the headlines for cutting spending and jobs, which doesn’t exactly scream “buy more Teslas.”

💸 $460 Billion Gone. Poof.

Tesla lost over $460 billion in market cap in just three months.

Meanwhile, Elon’s DOGE department says it’s saved $140B in federal spending. Great for the government. Not so great if you’re long TSLA and watching your portfolio cry.

Musk’s Latest Promises

Elon says:

• Tesla’s robotaxi service is launching in Austin this June

• Current Teslas will become robo-ready with just one software upgrade

• Long-term, the stock is still a “buying opportunity”

Investors right now:
"I didn't lose money, I just… transferred it to someone with diamond hands."

Historical Déjà Vu?

This isn’t the first time Tesla’s tanked to start the year. Back in Q1 of 2024, shares dropped 29%, only to rally 63% by year-end.

So if you’re still holding on… maybe there’s hope. If not, you can always sell and buy gold.

Apparently that stuff only goes up now.

BREAKING NEWS

🤖 OpenAI Just Raised $40 Billion

OpenAI just pulled off the biggest private funding round in tech history — a casual $40 billion.

The new cash brings OpenAI’s valuation to a whopping $300 billion, making it one of the most valuable private companies on the planet — right behind SpaceX ($350B) and ahead of TikTok’s parent company, ByteDance.

Here’s the breakdown:

• 🏦 $30B came from SoftBank

• 🧢 $10B came from a syndicate including Microsoft, Coatue, Thrive, and Altimeter

So what will OpenAI do with all that money? According to insiders:

• $18B is earmarked for Stargate, a joint AI infrastructure venture between OpenAI, Oracle, and SoftBank

• The rest will be used to "push the frontiers of AI" — aka build more compute and probably make ChatGPT even sassier

But there’s a catch...

📉 If OpenAI doesn’t restructure into a for-profit entity by Dec 31, the deal could be slashed by up to $10 billion. And that restructuring? It’s already being challenged in court by none other than… Elon Musk.

Elon co-founded OpenAI back in 2015 as a nonprofit, and he’s not too thrilled about it turning into a multi-billion-dollar corporate empire.

Still, this is a major milestone. AI is hot, and OpenAI just reminded everyone who’s sitting at the top of the food chain.

PROP FIRMS

🤔 Something To Think About

🚀 Pre-Market Fuel

1. An in-depth breakdown of Google’s stock compared to its 2021 financials.

2. Newsmax had an incredible IPO, rising over 700%.

3. This is what Trump thinks about stagflation.

4. An interesting graph showing the S&P 500 versus the rest of the world.

🍪 Munchy Memes

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