Welcome to Reading The Big Book of Cyberpunk!
Each week we (u/FarragutCircle and u/fanny_bertram) will be reading 5-ish stories from Jared Shurin’s The Big Book of Cyberpunk, which includes a curated selection of cyberpunk stories written from 1950 to 2022! We’ll include synopses of the stories along with links to any legally available online versions we can find. Feel free to read along with us or just stop by and hear our thoughts about some cyberpunk stories to decide if any of them sound interesting to you.
Every once in a while, we reach out to people who have more insight, due to being fans of the author or have some additional context for the story. (Or we just tricked them into it.) So please welcome u/RuinEleint who will be sharing their thoughts on "The Yuletide Cyberpunk Yarn, or Christmas_Eve-117.DIR" by Victor Pelevin!
“Deep Eddy” by Bruce Sterling (published 1993; also available in his collection Ascendancies: The Best of Bruce Sterling)
Deep Eddy is acting as a data courier to the Cultural Critic in Düsseldorf, right as the city goes through a Wende (a sort of anarchist “Purge”).

• Farragut’s thoughts: We’ve read Sterling before in Science Fiction. Eddy is a misguided libertarian creep who won’t stop hitting on his German bodyguard and is too dumb to understand the philosophical points that the Cultural Critic is making (for that matter, I’m too dumb to understand, too). He survives his time in Germany, but has learned nothing of value for his punk attitude. What’s the point of rebelling if you don’t understand why? The naivete and creepiness were a little too much for me.
  
• fanny’s thoughts: This did not work for me. Eddy is creepy and annoying. He keeps hitting on the bodyguard and she makes it VERY clear she is only there in a professional context. Eddy also seems to generally not have any clue what he is doing. He is libertarian and against something but no one seems to know what. He doesn't even seem to know what he delivered to the Cultural Critic.
  

“The Yuletide Cyberpunk Yarn, or Christmas_Eve-117.DIR” by Victor Pelevin (1996, translated from Russian by Alex Shvartsman)
A corrupt mayor’s computer is infected by a virus that causes chaos in Russia.

• Special Guest Ruin: This was a fascinating story to read. The way the narrative segued from a discussion on poetry to a darkly comedic look at a Russian city was remarkable. The author seems to like to start or lead with a theme or themes which seem to be only tangentially related to each other such as for example the name of the computer virus, or Gerasimov and his dog. But both elements circle back into the story and are crucial to its structure. As for the content of the story itself, I amused myself by imagining the events as being a movie that blended the stylistic elements of Tarantino and Wes Anderson. So we have brutal, bloody violence in increasingly absurd settings and the way it is all described makes it easy to imagine it all taking place amidst the highly stylized sets and characters we would expect in a Wes Anderson movie. Overall, I really enjoyed this story.
  
• Farragut: We’ve read Pelevin before in Modern Fantasy. First of all, this is a fantastic title for a story, period. Second of all, I just enjoyed Pelevin’s style here (via Shvartsman’s translation), with an omniscient narrator telling us about a completely ridiculous situation. It gets a little cagey with the identity of the perpetrator and the ending, but I’m very curious as to how darkly I should read it (now that I think about it, it’s directly connected to the original, so I should read it very darkly indeed). Shvartsman’s occasional footnotes were very helpful, however, especially with the context surrounding Gerasim(ov) and Mumu.
  
• fanny: Ruin's review is so good, I am not sure what to add. The style of this story fit the elements so well. It starts with a poem whose themes carry through the story. The footnotes were a really great addition and helped contextualize. The narrator keeps upping the ridiculousness until we get to the end and everything gets wrapped up.
  

“Wonderama” by Bef (1998, translated from Spanish by the author)
Lalo (or is it Eduardo?) wakes up every day in the most awesome life in 1974, but it’s revealed to be a lie and ends tragically.

• Farragut: Bef is a Mexican SF writer, a crime writer, and a graphic novelist, and honestly his whole bibliography sounds cool as heck. Told in a series of diary entries with some small interruptions, we follow a kid whose life is like a Mexican kid’s sugar-fueled dream. The reason for its inclusion in this thematic section of the anthology becomes clear however, and I yelled, “Noooo!” at the ending. Sigh. It’s very good!
  
• fanny: I am a sucker for diary entry style stories and this was no exception. Lalo’s life seems almost perfect, but it feels so off. The story feels progressively more off until we start to question everything. Also, yelled “Nooo!” at the ending. Very good. Absolutely loved.
  

“comp.basilisk FAQ” by David Langford (1999) (link to story)
A FAQ-style story that clearly describes a bizarre future where images on the web and TV are banned due to the risk of death.

• Farragut: Langford is famous for having the most Hugo wins (29), mostly for the Fan Writer category, but also Short Story (not this one) and Best Related Work (not this one either). This is a delightful story that made me think of it as a precursor to qntm’s later story “Lena” from Week 5 (though obviously only in general form). Apparently I love the faux-nonfiction style where some of the horror and plot is between the lines. The final FAQ about Microsoft was darkly funny.
  
• fanny: This was fun and very short. The FAQs related to basilisk and writing were great. It goes between funny, dark humor, and just dark. I liked the commentary on technology and software. I also really appreciate the standard response answers explaining they should post someone else. This is something I deal with often and this was great.
  

“Spider's Nest” by Myra Çakan (2004, translated from German by Jim Young; also available in the anthology The Apex Book of World SF 3 edited by Lavie Tidhar)
Spider, uh, does something? Is looking for drugs, maybe? But something else happens instead?

• Farragut: Çakan is a German writer from Hamburg, and after reading this story, I’d say Shurin made hamburger out of me, too. The main thing I got out of this story was that Spider really wanted something, maybe. I thought it was drugs, but he got angry at his dealer and then got super weird with his friend’s girlfriend? And then there was a Silver Spider, who wasn’t him, but maybe he plugged himself in to replace her? What is happening?
  
• fanny: Spider definitely wanted drugs from his dealer, Ant. I think. Ant got annoyed at something then Spider got into a voyeur situation (maybe). There is a Silver Spider in his dreams that makes him feel better. I couldn't tell if this was dream or drug induced or technology induced. The end is super weird and makes even less sense than the story. Spider might have done a murder on himself? I have been confused before in this anthology, but not to this level.
  

That’s it for this week! Check back the same time next week where we’ll be reading and discussing "The Last American" by John Kessel, "Earth Hour" by Ken MacLeod, "Violation of the TrueNet Security Act" by Taiyo Fujii, "Twelve Minutes to Vinh Quang" by T. R. Napper, and "Operation Daniel" by Khalid Kaki.
Also posted on Bochord Online.

ANALYSIS section will be posted separately on my sub Tradingedge
DATA LEDE:

• RBA minutes - Australia
• Said they will try not to excessively fine tune policy
• Future changes to cash rate are difficult to rule in or out
• CPI short term variation can be easily and reasonably overlooked
• Recent data does point to slightly increased inflation risks
• NEUTRAL/HAWKISH overall
• Australia consumer confidence numbers drop 0.3% MOM
• German PPI came 0.2% MOM vs 0.2% expected, in line with last months reading.
• YOY came in at -3.3% slightly below expected value of -3.2%. Came in light which is good for German inflation picture.
• Yellen Speech - no real meaningful comments
• EU balance of trade numbers hit a new yearly high. Points to improving world demand environment.
• Fed speakers include:
• Barkin, Waller, Williams, Bostic, Barr
• BoE’s Bailey to speak too

MARKETS:

• SPX: Maintained above 5300, now trading at 5311. Yesterday, touched 5325, before moving lower again. DJI: Trading at 39,813, just below 40k. Opened yesterday above 40k but moved lower on JPM weakness.
• Nasdaq: trading flat at 18,665. Support will now be at around 18,350.
• Ger40: Slightly lower today, at 18,600. Some slight profit taking near the highs.
• HKG50: Moving lower again for 2nd day in a row. Now at 19,240. Yesterday, was at 19,750 at one point. So down 2.7% across yesterday and today.
• Oil - hit 80 yesterday on WTI but was rejected off there. Lower today to 78, down by 1.5%. Back to range bound.
• Gold: Trading at 2418, Support at 2400.
• VIX: After getting crushed to 12 yesterday, bounced up off of there, now higher.

FX:

• DXY moving flat today and yesterday, around 104.5
• Had fallen to 100d moving average after CPI then moved higher, bouncing from there.
• EURUSD positioning still bullish, flat, slightly higher at 1.087
• GBPUSD moving higher again, trading at 1.272
• AUDUSD at 0.667,
• Has broken out of the long term downtrend.

EARNINGS:

• PANW Current Quarter:
• Revenues of 1.985B beat by 0.8%. Revenues rose 15% YOY
• Products revenue beat by 1.2%
• Subscriptions and support revenue beat by 0.3%
• EPS of 1.32 Beat expectations of 1.25 - beat by 5.6%
• Operating income was 508M, beat by 3.5%
• Operating margin was 25.6% , beat by 69 bps
• Billings came more or less in line
• Deferred revenue basically in line, slight miss.
• NEXT QUARTER GUIDANCE:
• EPS of 1.41 v slightly missed expectations of 1.42
• Revenue came in line with consensus at 2.16B
• Billings guidance beat consensus v slightly.
• FULL YEAR GUIDANCE:
• EPS of 5.56-5.58 beat estimates of 5.51
• Revenue of 8B beat estimates of 7.98B
• Billings of 10.15.5B was up 10-11% YoY
• CEO Nikesh Arora: Enthusiastic response to pjatformization and AI infused security outcomes.
• In conference call said that billings isn’t the only important measure, hence investors should overlook the slight softness in billings.
• Said cybersecurity demand will continue to grow for next several quarters, and PANW will benefit.
• Cyberattacks are scaling and aren’t going away. AI will increase these threats. So the tailwinds for PANW are very strong.

XPEV

• EPS of -0.75 was much better than the -2.06 expected
• Revenue of 6.55B beat estimates of 6.19B. Up 63% YOY, but down 50% QOQ
• Vehicle margin was 5.5%, which was up from 4.1% last quarter, and up form -2.5% last year SO VEHICLE MARGIN IMPROVED
• Vehicle sales came in at 5.54B yuan, up 50% YOY but down 50% QOQ
• Gross margin was 12.9%, up from 1.7% last year and 6.2% last quarter
• SO MARGINS IMPROVED, SALES WERE WORSE THAN LAST QUARTER
• In April saw 9,393 vehicles delivered
• Partnership with Volkswagen group on E/E architecture
• Release of AI powered functions
• GROSS MARGIN IMPROVEMENT DESPITE COMPETITION AND OTHERS CUTTING PRICES WAS A KEY BENEFIT.

NEXT QUARTER GUDIANCE:

• Revenue 7.5-8.3B miss by 15%
• Delivered of 29-32K. Up 30% YOY

MACYS:

• Current quarter:
• ADJ EPS $0.27 vs. $0.56 y/y, EST $0.14. BEAT
• EPS $0.22 vs. $0.56 y/y
• Net sales $4.8B, -3.7% y/y, EST $4.81B. IN LINE
• Gross margin 39.2% vs. 40% y/y, EST 39.6%. MISS
• SG&A expense $1.9B, -2.6% y/y, EST $1.98B. MISS
• GUIDANCE:
• Raised guidance from 2.45-2.85 to 2.55-2.9.
• Raised by 4%
• Beat estimates by 4%, although is a wide guidance
• Sees Net sales at 22.3-22.9B, raising bottom end up slightly from 22.2B.
• More or less in line with guidance.
• Merchandise margins down 100bps due to additional discounting
• Merchandise inventories are well positioned for upcoming summer season
• Credit card revenues down slightly due to higher delinquency rates
• Turnaround plan showing signs of progress as they beat and raise guidance.

LOWES:

• Current quarter:
• EPS of 3.67 beat estimates of 2.95
• Revenue of 21.4B was down YOY by 4%, but beat estimates by 1.3%
• Comparables sales were down 4%
• Reaffirms FY guidance:
• EPS of 12-12.3 vs estimate of 12.19. So miss slightly by 0.4%
• Revenue of 84-85B, basically in line.
• EXPECTS COMPARABLE SALES TO BE DOWN 2-3% vs estimates of 2.43% down.

MAG 7:

• MSFT yesterday, said that Copilot Plus PCs will be based on Qualcomm’s snapdragon X Elite chips, and will offer 15 hours of web browsing and 20 hours of video battery life. MSFT says it’ll outperform MacBook Air.
• On Copilot Plus, Neural processor enables new AI features such as recall for a searchable PC memory.
• MSFT estimates 50 million AI PCs will be sold over the next year. Said its rearchitectured Windows 11 is 58% faster than Apple’s MacBook Air.
• MSFT - restructures Windows 11 for better ARM hardware support and AI integration. Introduces prism emulator, launched to improve compatibility with older x86 and x64 apps. MSFT says Prism emulator is 20% faster than previous versions.
• AAPL - Files law suit to overturn $1.8B EU antitrust fine over App Store rules. AAPL is challenging a 1.8B fine.
• MSFT - OpenAI will be sued by Scarlett Johansson for basically copying her voice against her explicit instruction not to.
• TSLA - Tesla shareholder group still not happy with Elon Musk’s $56B pay package. Urged other investors to reject a $56B pay package.

OTHER COMPANIES:

• XPEV higher on their strong earnings
• MACYS higher on improving picture
• LOW - higher on earnings
• Crypto stocks higher on strong Bitcoin performance
• LRCX 10-1 stock split
• PANW lower on eanrings, seems harsh to me. Other crypto names down in sentiment.
• Chinese stocks lower as Hong Kong MARKET down 1.5% today.
• NOVA - Piper Sandler downgrades Sunnova Energy to neutral from overweight, lowered price target to 4.50 from 9. Analyst had upgraded sun nova in December on expectation of lower rates, but rates have stayed high.
• Li - postpones the launch of its all electric SUVs to the first half of 2025, citing inadequate charging stations and other constraints. CEO emphasised the need for sufficient branded charging stations and more display spots.
• DOWN 4% AGAIN TODAY ON THIS.
• BABA - Alibaba cloud slashes prices for its latest LLM model, Tongyi Qianwen, by up to 97%
• BIDU - in response to Alibaba’s move, BIDU made its ENITRE Speed and ENIRE lite models entirely free to use.
• So we are seeing price wars in AI market.
• JPM says that they will not be increasing buybacks of JPM stock at these prices. Will just continue with previously outlined buyback pace.
• Jamie Dimon also hinted at retirement in the speech, hence JPM lower yesterday
• DELL - Citi raises dell price target to 170 from 125. Optimistic they can gain market share more in AI.
• JD - announces a proposed offering of $1.5B in convertible senior notes, due 2029. Will use proceeds to repurchase shares and expand overseas business.
• PTON - plans global refinancing to address debt. Secured nearly $1.4B in new credit facilities.
• ASML and TSM said they have measures in place to remotely disable advanced EUV chip making machines if China was to invade Taiwan.
• QCOM - shares were higher yesterday after Several big companies including Dell and MSFT announced AI laptops using Qualcomm’s snapdragon X elite chip. MSFT says these devices will outperform apple MacBook Air M3.
• ARM - MSFT will announce Arm powered laptops
• WEN - launches a $3 breakfast deal, including small seasoned potatoes, choice of bacon, eggs and cheese or sausage, eggs and cheese muffin. Rivals Mcdonalds $5value meal
• DASH - expanded its partnership with ULTA beauty to offer on demand delivery in under an hour from 1350 stores across all 50 states.
• VFS - US regulators are probing a vin fast VF 8 Crash, that killed 4 in California.
• LLY - secures china approval for diabetes drug, Tirzepatide. Received approval in China for its diabetes drug.
• BA - one killed on Singapore Airlines Boeing 777 due to severe turbulence.
• DIS - Redburn upgrades to neutral from Sell. Price target 100.
• Samsung - appoints new chief for its chip business, amid competition.

OThER NEWS:

• BTC higher to 72K.
• ETH popped 20% yesterday on renewed optimism for ETF, that SEC might green light spot ether ETFs ahead of first deadline later this week.
• Yardeni research sees Dow Jones DJI at 60k and SPX at 8k by 2030
• Mester’s comments yesterday:
• 3 rate cuts this year is no longer appropriate.
• April CPI was good, but too soon to say what path inflation is on. She said she doesnt think about rate cuts in terms of when. We can raise rates but its not base case. That’s bearish, but also unrealistic. I think there’s less risk now that we are too restrictive, and inflation risks are to upside.
• BEARISH COMMENTS FROM MESTER OVERALL
• Jefferson’s Comments yesterday:
• April inflation was encouraging. Labour market coming into better balance. Inflation decline isn’t as fast as we had liked. Policy is restrictive. - NEUTRAL comments, I’d say.
• Following these comments, Bank of America said that whilst the bar for rate hikes is still v high, rate cuts are still far off. Said Services inflation still running way above target.
• Bank of America believes markets got excited at the print, said markets pricing 50bps of cuts are likely to get disappointed.
• Did push back on stagflation narrative.
• SPACEX Q1 launch report shows that SpaceX is now launching 87% of all payload to orbit, a new record high.
• New Yorkers on average earned $89K last year, meaning that without spending more than 30% of annual income on rent, they can afford $2,216 on housing. That’s only enough to afford 4.4% of rentals.
• Marko Kolanovic held his bearish outlook on stocks, urging clients not to buy. So not all bears are capitulating.
• Fidelity ethereal fund says that the trust’s Ether will not be staked.
• IMF official expects next stage for BOE is to ease rates, says UK monetary policy is at inflection point. Actions by UK authorities are paying off.
• Said BoE should cut rates by 50-75bps in 2024.
• Upgraded UK growth forecast to 0.7% this year from 0.5% previously
• Dubai Airport expects record passenger traffic this year, set to top 100M by 2027.

For more of my content, please join Tradingedge

DATA LEDE:

• RBA minutes - Australia
• Said they will try not to excessively fine tune policy
• Future changes to cash rate are difficult to rule in or out
• CPI short term variation can be easily and reasonably overlooked
• Recent data does point to slightly increased inflation risks
• NEUTRAL/HAWKISH overall
• Australia consumer confidence numbers drop 0.3% MOM
• German PPI came 0.2% MOM vs 0.2% expected, in line with last months reading.
• YOY came in at -3.3% slightly below expected value of -3.2%. Came in light which is good for German inflation picture.
• Yellen Speech - no real meaningful comments
• EU balance of trade numbers hit a new yearly high. Points to improving world demand environment.
• Fed speakers include:
• Barkin, Waller, Williams, Bostic, Barr
• BoE’s Bailey to speak too

MARKETS:

• SPX: Maintained above 5300, now trading at 5311. Yesterday, touched 5325, before moving lower again. DJI: Trading at 39,813, just below 40k. Opened yesterday above 40k but moved lower on JPM weakness.
• Nasdaq: trading flat at 18,665. Support will now be at around 18,350.
• Ger40: Slightly lower today, at 18,600. Some slight profit taking near the highs.
• HKG50: Moving lower again for 2nd day in a row. Now at 19,240. Yesterday, was at 19,750 at one point. So down 2.7% across yesterday and today.
• Oil - hit 80 yesterday on WTI but was rejected off there. Lower today to 78, down by 1.5%. Back to range bound.
• Gold: Trading at 2418, Support at 2400.
• VIX: After getting crushed to 12 yesterday, bounced up off of there, now higher.

FX:

• DXY moving flat today and yesterday, around 104.5
• Had fallen to 100d moving average after CPI then moved higher, bouncing from there.
• EURUSD positioning still bullish, flat, slightly higher at 1.087
• GBPUSD moving higher again, trading at 1.272
• AUDUSD at 0.667,
• Has broken out of the long term downtrend.

EARNINGS:

• PANW Current Quarter:
• Revenues of 1.985B beat by 0.8%. Revenues rose 15% YOY
• Products revenue beat by 1.2%
• Subscriptions and support revenue beat by 0.3%
• EPS of 1.32 Beat expectations of 1.25 - beat by 5.6%
• Operating income was 508M, beat by 3.5%
• Operating margin was 25.6% , beat by 69 bps
• Billings came more or less in line
• Deferred revenue basically in line, slight miss.
• NEXT QUARTER GUIDANCE:
• EPS of 1.41 v slightly missed expectations of 1.42
• Revenue came in line with consensus at 2.16B
• Billings guidance beat consensus v slightly.
• FULL YEAR GUIDANCE:
• EPS of 5.56-5.58 beat estimates of 5.51
• Revenue of 8B beat estimates of 7.98B
• Billings of 10.15.5B was up 10-11% YoY
• CEO Nikesh Arora: Enthusiastic response to pjatformization and AI infused security outcomes.
• In conference call said that billings isn’t the only important measure, hence investors should overlook the slight softness in billings.
• Said cybersecurity demand will continue to grow for next several quarters, and PANW will benefit.
• Cyberattacks are scaling and aren’t going away. AI will increase these threats. So the tailwinds for PANW are very strong.

XPEV

• EPS of -0.75 was much better than the -2.06 expected
• Revenue of 6.55B beat estimates of 6.19B. Up 63% YOY, but down 50% QOQ
• Vehicle margin was 5.5%, which was up from 4.1% last quarter, and up form -2.5% last year SO VEHICLE MARGIN IMPROVED
• Vehicle sales came in at 5.54B yuan, up 50% YOY but down 50% QOQ
• Gross margin was 12.9%, up from 1.7% last year and 6.2% last quarter
• SO MARGINS IMPROVED, SALES WERE WORSE THAN LAST QUARTER
• In April saw 9,393 vehicles delivered
• Partnership with Volkswagen group on E/E architecture
• Release of AI powered functions
• GROSS MARGIN IMPROVEMENT DESPITE COMPETITION AND OTHERS CUTTING PRICES WAS A KEY BENEFIT.

NEXT QUARTER GUDIANCE:

• Revenue 7.5-8.3B miss by 15%
• Delivered of 29-32K. Up 30% YOY

MACYS:

• Current quarter:
• ADJ EPS $0.27 vs. $0.56 y/y, EST $0.14. BEAT
• EPS $0.22 vs. $0.56 y/y
• Net sales $4.8B, -3.7% y/y, EST $4.81B. IN LINE
• Gross margin 39.2% vs. 40% y/y, EST 39.6%. MISS
• SG&A expense $1.9B, -2.6% y/y, EST $1.98B. MISS
• GUIDANCE:
• Raised guidance from 2.45-2.85 to 2.55-2.9.
• Raised by 4%
• Beat estimates by 4%, although is a wide guidance
• Sees Net sales at 22.3-22.9B, raising bottom end up slightly from 22.2B.
• More or less in line with guidance.
• Merchandise margins down 100bps due to additional discounting
• Merchandise inventories are well positioned for upcoming summer season
• Credit card revenues down slightly due to higher delinquency rates
• Turnaround plan showing signs of progress as they beat and raise guidance.

LOWES:

• Current quarter:
• EPS of 3.67 beat estimates of 2.95
• Revenue of 21.4B was down YOY by 4%, but beat estimates by 1.3%
• Comparables sales were down 4%
• Reaffirms FY guidance:
• EPS of 12-12.3 vs estimate of 12.19. So miss slightly by 0.4%
• Revenue of 84-85B, basically in line.
• EXPECTS COMPARABLE SALES TO BE DOWN 2-3% vs estimates of 2.43% down.

MAG 7:

• MSFT yesterday, said that Copilot Plus PCs will be based on Qualcomm’s snapdragon X Elite chips, and will offer 15 hours of web browsing and 20 hours of video battery life. MSFT says it’ll outperform MacBook Air.
• On Copilot Plus, Neural processor enables new AI features such as recall for a searchable PC memory.
• MSFT estimates 50 million AI PCs will be sold over the next year. Said its rearchitectured Windows 11 is 58% faster than Apple’s MacBook Air.
• MSFT - restructures Windows 11 for better ARM hardware support and AI integration. Introduces prism emulator, launched to improve compatibility with older x86 and x64 apps. MSFT says Prism emulator is 20% faster than previous versions.
• AAPL - Files law suit to overturn $1.8B EU antitrust fine over App Store rules. AAPL is challenging a 1.8B fine.
• MSFT - OpenAI will be sued by Scarlett Johansson for basically copying her voice against her explicit instruction not to.
• TSLA - Tesla shareholder group still not happy with Elon Musk’s $56B pay package. Urged other investors to reject a $56B pay package.

OTHER COMPANIES:

• XPEV higher on their strong earnings
• MACYS higher on improving picture
• LOW - higher on earnings
• Crypto stocks higher on strong Bitcoin performance
• LRCX 10-1 stock split
• PANW lower on eanrings, seems harsh to me. Other crypto names down in sentiment.
• Chinese stocks lower as Hong Kong MARKET down 1.5% today.
• NOVA - Piper Sandler downgrades Sunnova Energy to neutral from overweight, lowered price target to 4.50 from 9. Analyst had upgraded sun nova in December on expectation of lower rates, but rates have stayed high.
• Li - postpones the launch of its all electric SUVs to the first half of 2025, citing inadequate charging stations and other constraints. CEO emphasised the need for sufficient branded charging stations and more display spots.
• DOWN 4% AGAIN TODAY ON THIS.
• BABA - Alibaba cloud slashes prices for its latest LLM model, Tongyi Qianwen, by up to 97%
• BIDU - in response to Alibaba’s move, BIDU made its ENITRE Speed and ENIRE lite models entirely free to use.
• So we are seeing price wars in AI market.
• JPM says that they will not be increasing buybacks of JPM stock at these prices. Will just continue with previously outlined buyback pace.
• Jamie Dimon also hinted at retirement in the speech, hence JPM lower yesterday
• DELL - Citi raises dell price target to 170 from 125. Optimistic they can gain market share more in AI.
• JD - announces a proposed offering of $1.5B in convertible senior notes, due 2029. Will use proceeds to repurchase shares and expand overseas business.
• PTON - plans global refinancing to address debt. Secured nearly $1.4B in new credit facilities.
• ASML and TSM said they have measures in place to remotely disable advanced EUV chip making machines if China was to invade Taiwan.
• QCOM - shares were higher yesterday after Several big companies including Dell and MSFT announced AI laptops using Qualcomm’s snapdragon X elite chip. MSFT says these devices will outperform apple MacBook Air M3.
• ARM - MSFT will announce Arm powered laptops
• WEN - launches a $3 breakfast deal, including small seasoned potatoes, choice of bacon, eggs and cheese or sausage, eggs and cheese muffin. Rivals Mcdonalds $5value meal
• DASH - expanded its partnership with ULTA beauty to offer on demand delivery in under an hour from 1350 stores across all 50 states.
• VFS - US regulators are probing a vin fast VF 8 Crash, that killed 4 in California.
• LLY - secures china approval for diabetes drug, Tirzepatide. Received approval in China for its diabetes drug.
• BA - one killed on Singapore Airlines Boeing 777 due to severe turbulence.
• DIS - Redburn upgrades to neutral from Sell. Price target 100.
• Samsung - appoints new chief for its chip business, amid competition.

OThER NEWS:

• BTC higher to 72K.
• ETH popped 20% yesterday on renewed optimism for ETF, that SEC might green light spot ether ETFs ahead of first deadline later this week.
• Yardeni research sees Dow Jones DJI at 60k and SPX at 8k by 2030
• Mester’s comments yesterday:
• 3 rate cuts this year is no longer appropriate.
• April CPI was good, but too soon to say what path inflation is on. She said she doesnt think about rate cuts in terms of when. We can raise rates but its not base case. That’s bearish, but also unrealistic. I think there’s less risk now that we are too restrictive, and inflation risks are to upside.
• BEARISH COMMENTS FROM MESTER OVERALL
• Jefferson’s Comments yesterday:
• April inflation was encouraging. Labour market coming into better balance. Inflation decline isn’t as fast as we had liked. Policy is restrictive. - NEUTRAL comments, I’d say.
• Following these comments, Bank of America said that whilst the bar for rate hikes is still v high, rate cuts are still far off. Said Services inflation still running way above target.
• Bank of America believes markets got excited at the print, said markets pricing 50bps of cuts are likely to get disappointed.
• Did push back on stagflation narrative.
• SPACEX Q1 launch report shows that SpaceX is now launching 87% of all payload to orbit, a new record high.
• New Yorkers on average earned $89K last year, meaning that without spending more than 30% of annual income on rent, they can afford $2,216 on housing. That’s only enough to afford 4.4% of rentals.
• Marko Kolanovic held his bearish outlook on stocks, urging clients not to buy. So not all bears are capitulating.
• Fidelity ethereal fund says that the trust’s Ether will not be staked.
• IMF official expects next stage for BOE is to ease rates, says UK monetary policy is at inflection point. Actions by UK authorities are paying off.
• Said BoE should cut rates by 50-75bps in 2024.
• Upgraded UK growth forecast to 0.7% this year from 0.5% previously
• Dubai Airport expects record passenger traffic this year, set to top 100M by 2027.

ANALYSIS section will be posted separately on my sub Tradingedge
DATA LEDE:

• RBA minutes - Australia
• Said they will try not to excessively fine tune policy
• Future changes to cash rate are difficult to rule in or out
• CPI short term variation can be easily and reasonably overlooked
• Recent data does point to slightly increased inflation risks
• NEUTRAL/HAWKISH overall
• Australia consumer confidence numbers drop 0.3% MOM
• German PPI came 0.2% MOM vs 0.2% expected, in line with last months reading.
• YOY came in at -3.3% slightly below expected value of -3.2%. Came in light which is good for German inflation picture.
• Yellen Speech - no real meaningful comments
• EU balance of trade numbers hit a new yearly high. Points to improving world demand environment.
• Fed speakers include:
• Barkin, Waller, Williams, Bostic, Barr
• BoE’s Bailey to speak too

MARKETS:

• SPX: Maintained above 5300, now trading at 5311. Yesterday, touched 5325, before moving lower again. DJI: Trading at 39,813, just below 40k. Opened yesterday above 40k but moved lower on JPM weakness.
• Nasdaq: trading flat at 18,665. Support will now be at around 18,350.
• Ger40: Slightly lower today, at 18,600. Some slight profit taking near the highs.
• HKG50: Moving lower again for 2nd day in a row. Now at 19,240. Yesterday, was at 19,750 at one point. So down 2.7% across yesterday and today.
• Oil - hit 80 yesterday on WTI but was rejected off there. Lower today to 78, down by 1.5%. Back to range bound.
• Gold: Trading at 2418, Support at 2400.
• VIX: After getting crushed to 12 yesterday, bounced up off of there, now higher.

FX:

• DXY moving flat today and yesterday, around 104.5
• Had fallen to 100d moving average after CPI then moved higher, bouncing from there.
• EURUSD positioning still bullish, flat, slightly higher at 1.087
• GBPUSD moving higher again, trading at 1.272
• AUDUSD at 0.667,
• Has broken out of the long term downtrend.

EARNINGS:

• PANW Current Quarter:
• Revenues of 1.985B beat by 0.8%. Revenues rose 15% YOY
• Products revenue beat by 1.2%
• Subscriptions and support revenue beat by 0.3%
• EPS of 1.32 Beat expectations of 1.25 - beat by 5.6%
• Operating income was 508M, beat by 3.5%
• Operating margin was 25.6% , beat by 69 bps
• Billings came more or less in line
• Deferred revenue basically in line, slight miss.
• NEXT QUARTER GUIDANCE:
• EPS of 1.41 v slightly missed expectations of 1.42
• Revenue came in line with consensus at 2.16B
• Billings guidance beat consensus v slightly.
• FULL YEAR GUIDANCE:
• EPS of 5.56-5.58 beat estimates of 5.51
• Revenue of 8B beat estimates of 7.98B
• Billings of 10.15.5B was up 10-11% YoY
• CEO Nikesh Arora: Enthusiastic response to pjatformization and AI infused security outcomes.
• In conference call said that billings isn’t the only important measure, hence investors should overlook the slight softness in billings.
• Said cybersecurity demand will continue to grow for next several quarters, and PANW will benefit.
• Cyberattacks are scaling and aren’t going away. AI will increase these threats. So the tailwinds for PANW are very strong.

XPEV

• EPS of -0.75 was much better than the -2.06 expected
• Revenue of 6.55B beat estimates of 6.19B. Up 63% YOY, but down 50% QOQ
• Vehicle margin was 5.5%, which was up from 4.1% last quarter, and up form -2.5% last year SO VEHICLE MARGIN IMPROVED
• Vehicle sales came in at 5.54B yuan, up 50% YOY but down 50% QOQ
• Gross margin was 12.9%, up from 1.7% last year and 6.2% last quarter
• SO MARGINS IMPROVED, SALES WERE WORSE THAN LAST QUARTER
• In April saw 9,393 vehicles delivered
• Partnership with Volkswagen group on E/E architecture
• Release of AI powered functions
• GROSS MARGIN IMPROVEMENT DESPITE COMPETITION AND OTHERS CUTTING PRICES WAS A KEY BENEFIT.

NEXT QUARTER GUDIANCE:

• Revenue 7.5-8.3B miss by 15%
• Delivered of 29-32K. Up 30% YOY

MACYS:

• Current quarter:
• ADJ EPS $0.27 vs. $0.56 y/y, EST $0.14. BEAT
• EPS $0.22 vs. $0.56 y/y
• Net sales $4.8B, -3.7% y/y, EST $4.81B. IN LINE
• Gross margin 39.2% vs. 40% y/y, EST 39.6%. MISS
• SG&A expense $1.9B, -2.6% y/y, EST $1.98B. MISS
• GUIDANCE:
• Raised guidance from 2.45-2.85 to 2.55-2.9.
• Raised by 4%
• Beat estimates by 4%, although is a wide guidance
• Sees Net sales at 22.3-22.9B, raising bottom end up slightly from 22.2B.
• More or less in line with guidance.
• Merchandise margins down 100bps due to additional discounting
• Merchandise inventories are well positioned for upcoming summer season
• Credit card revenues down slightly due to higher delinquency rates
• Turnaround plan showing signs of progress as they beat and raise guidance.

LOWES:

• Current quarter:
• EPS of 3.67 beat estimates of 2.95
• Revenue of 21.4B was down YOY by 4%, but beat estimates by 1.3%
• Comparables sales were down 4%
• Reaffirms FY guidance:
• EPS of 12-12.3 vs estimate of 12.19. So miss slightly by 0.4%
• Revenue of 84-85B, basically in line.
• EXPECTS COMPARABLE SALES TO BE DOWN 2-3% vs estimates of 2.43% down.

MAG 7:

• MSFT yesterday, said that Copilot Plus PCs will be based on Qualcomm’s snapdragon X Elite chips, and will offer 15 hours of web browsing and 20 hours of video battery life. MSFT says it’ll outperform MacBook Air.
• On Copilot Plus, Neural processor enables new AI features such as recall for a searchable PC memory.
• MSFT estimates 50 million AI PCs will be sold over the next year. Said its rearchitectured Windows 11 is 58% faster than Apple’s MacBook Air.
• MSFT - restructures Windows 11 for better ARM hardware support and AI integration. Introduces prism emulator, launched to improve compatibility with older x86 and x64 apps. MSFT says Prism emulator is 20% faster than previous versions.
• AAPL - Files law suit to overturn $1.8B EU antitrust fine over App Store rules. AAPL is challenging a 1.8B fine.
• MSFT - OpenAI will be sued by Scarlett Johansson for basically copying her voice against her explicit instruction not to.
• TSLA - Tesla shareholder group still not happy with Elon Musk’s $56B pay package. Urged other investors to reject a $56B pay package.

OTHER COMPANIES:

• XPEV higher on their strong earnings
• MACYS higher on improving picture
• LOW - higher on earnings
• Crypto stocks higher on strong Bitcoin performance
• LRCX 10-1 stock split
• PANW lower on eanrings, seems harsh to me. Other crypto names down in sentiment.
• Chinese stocks lower as Hong Kong MARKET down 1.5% today.
• NOVA - Piper Sandler downgrades Sunnova Energy to neutral from overweight, lowered price target to 4.50 from 9. Analyst had upgraded sun nova in December on expectation of lower rates, but rates have stayed high.
• Li - postpones the launch of its all electric SUVs to the first half of 2025, citing inadequate charging stations and other constraints. CEO emphasised the need for sufficient branded charging stations and more display spots.
• DOWN 4% AGAIN TODAY ON THIS.
• BABA - Alibaba cloud slashes prices for its latest LLM model, Tongyi Qianwen, by up to 97%
• BIDU - in response to Alibaba’s move, BIDU made its ENITRE Speed and ENIRE lite models entirely free to use.
• So we are seeing price wars in AI market.
• JPM says that they will not be increasing buybacks of JPM stock at these prices. Will just continue with previously outlined buyback pace.
• Jamie Dimon also hinted at retirement in the speech, hence JPM lower yesterday
• DELL - Citi raises dell price target to 170 from 125. Optimistic they can gain market share more in AI.
• JD - announces a proposed offering of $1.5B in convertible senior notes, due 2029. Will use proceeds to repurchase shares and expand overseas business.
• PTON - plans global refinancing to address debt. Secured nearly $1.4B in new credit facilities.
• ASML and TSM said they have measures in place to remotely disable advanced EUV chip making machines if China was to invade Taiwan.
• QCOM - shares were higher yesterday after Several big companies including Dell and MSFT announced AI laptops using Qualcomm’s snapdragon X elite chip. MSFT says these devices will outperform apple MacBook Air M3.
• ARM - MSFT will announce Arm powered laptops
• WEN - launches a $3 breakfast deal, including small seasoned potatoes, choice of bacon, eggs and cheese or sausage, eggs and cheese muffin. Rivals Mcdonalds $5value meal
• DASH - expanded its partnership with ULTA beauty to offer on demand delivery in under an hour from 1350 stores across all 50 states.
• VFS - US regulators are probing a vin fast VF 8 Crash, that killed 4 in California.
• LLY - secures china approval for diabetes drug, Tirzepatide. Received approval in China for its diabetes drug.
• BA - one killed on Singapore Airlines Boeing 777 due to severe turbulence.
• DIS - Redburn upgrades to neutral from Sell. Price target 100.
• Samsung - appoints new chief for its chip business, amid competition.

OThER NEWS:

• BTC higher to 72K.
• ETH popped 20% yesterday on renewed optimism for ETF, that SEC might green light spot ether ETFs ahead of first deadline later this week.
• Yardeni research sees Dow Jones DJI at 60k and SPX at 8k by 2030
• Mester’s comments yesterday:
• 3 rate cuts this year is no longer appropriate.
• April CPI was good, but too soon to say what path inflation is on. She said she doesnt think about rate cuts in terms of when. We can raise rates but its not base case. That’s bearish, but also unrealistic. I think there’s less risk now that we are too restrictive, and inflation risks are to upside.
• BEARISH COMMENTS FROM MESTER OVERALL
• Jefferson’s Comments yesterday:
• April inflation was encouraging. Labour market coming into better balance. Inflation decline isn’t as fast as we had liked. Policy is restrictive. - NEUTRAL comments, I’d say.
• Following these comments, Bank of America said that whilst the bar for rate hikes is still v high, rate cuts are still far off. Said Services inflation still running way above target.
• Bank of America believes markets got excited at the print, said markets pricing 50bps of cuts are likely to get disappointed.
• Did push back on stagflation narrative.
• SPACEX Q1 launch report shows that SpaceX is now launching 87% of all payload to orbit, a new record high.
• New Yorkers on average earned $89K last year, meaning that without spending more than 30% of annual income on rent, they can afford $2,216 on housing. That’s only enough to afford 4.4% of rentals.
• Marko Kolanovic held his bearish outlook on stocks, urging clients not to buy. So not all bears are capitulating.
• Fidelity ethereal fund says that the trust’s Ether will not be staked.
• IMF official expects next stage for BOE is to ease rates, says UK monetary policy is at inflection point. Actions by UK authorities are paying off.
• Said BoE should cut rates by 50-75bps in 2024.
• Upgraded UK growth forecast to 0.7% this year from 0.5% previously
• Dubai Airport expects record passenger traffic this year, set to top 100M by 2027.

For more of my content, please join Tradingedge

ANALYSIS section will be posted separately on my sub Tradingedge
DATA LEDE:

• RBA minutes - Australia
• Said they will try not to excessively fine tune policy
• Future changes to cash rate are difficult to rule in or out
• CPI short term variation can be easily and reasonably overlooked
• Recent data does point to slightly increased inflation risks
• NEUTRAL/HAWKISH overall
• Australia consumer confidence numbers drop 0.3% MOM
• German PPI came 0.2% MOM vs 0.2% expected, in line with last months reading.
• YOY came in at -3.3% slightly below expected value of -3.2%. Came in light which is good for German inflation picture.
• Yellen Speech - no real meaningful comments
• EU balance of trade numbers hit a new yearly high. Points to improving world demand environment.
• Fed speakers include:
• Barkin, Waller, Williams, Bostic, Barr
• BoE’s Bailey to speak too

MARKETS:

• SPX: Maintained above 5300, now trading at 5311. Yesterday, touched 5325, before moving lower again. DJI: Trading at 39,813, just below 40k. Opened yesterday above 40k but moved lower on JPM weakness.
• Nasdaq: trading flat at 18,665. Support will now be at around 18,350.
• Ger40: Slightly lower today, at 18,600. Some slight profit taking near the highs.
• HKG50: Moving lower again for 2nd day in a row. Now at 19,240. Yesterday, was at 19,750 at one point. So down 2.7% across yesterday and today.
• Oil - hit 80 yesterday on WTI but was rejected off there. Lower today to 78, down by 1.5%. Back to range bound.
• Gold: Trading at 2418, Support at 2400.
• VIX: After getting crushed to 12 yesterday, bounced up off of there, now higher.

FX:

• DXY moving flat today and yesterday, around 104.5
• Had fallen to 100d moving average after CPI then moved higher, bouncing from there.
• EURUSD positioning still bullish, flat, slightly higher at 1.087
• GBPUSD moving higher again, trading at 1.272
• AUDUSD at 0.667,
• Has broken out of the long term downtrend.

EARNINGS:

• PANW Current Quarter:
• Revenues of 1.985B beat by 0.8%. Revenues rose 15% YOY
• Products revenue beat by 1.2%
• Subscriptions and support revenue beat by 0.3%
• EPS of 1.32 Beat expectations of 1.25 - beat by 5.6%
• Operating income was 508M, beat by 3.5%
• Operating margin was 25.6% , beat by 69 bps
• Billings came more or less in line
• Deferred revenue basically in line, slight miss.
• NEXT QUARTER GUIDANCE:
• EPS of 1.41 v slightly missed expectations of 1.42
• Revenue came in line with consensus at 2.16B
• Billings guidance beat consensus v slightly.
• FULL YEAR GUIDANCE:
• EPS of 5.56-5.58 beat estimates of 5.51
• Revenue of 8B beat estimates of 7.98B
• Billings of 10.15.5B was up 10-11% YoY
• CEO Nikesh Arora: Enthusiastic response to pjatformization and AI infused security outcomes.
• In conference call said that billings isn’t the only important measure, hence investors should overlook the slight softness in billings.
• Said cybersecurity demand will continue to grow for next several quarters, and PANW will benefit.
• Cyberattacks are scaling and aren’t going away. AI will increase these threats. So the tailwinds for PANW are very strong.

XPEV

• EPS of -0.75 was much better than the -2.06 expected
• Revenue of 6.55B beat estimates of 6.19B. Up 63% YOY, but down 50% QOQ
• Vehicle margin was 5.5%, which was up from 4.1% last quarter, and up form -2.5% last year SO VEHICLE MARGIN IMPROVED
• Vehicle sales came in at 5.54B yuan, up 50% YOY but down 50% QOQ
• Gross margin was 12.9%, up from 1.7% last year and 6.2% last quarter
• SO MARGINS IMPROVED, SALES WERE WORSE THAN LAST QUARTER
• In April saw 9,393 vehicles delivered
• Partnership with Volkswagen group on E/E architecture
• Release of AI powered functions
• GROSS MARGIN IMPROVEMENT DESPITE COMPETITION AND OTHERS CUTTING PRICES WAS A KEY BENEFIT.

NEXT QUARTER GUDIANCE:

• Revenue 7.5-8.3B miss by 15%
• Delivered of 29-32K. Up 30% YOY

MACYS:

• Current quarter:
• ADJ EPS $0.27 vs. $0.56 y/y, EST $0.14. BEAT
• EPS $0.22 vs. $0.56 y/y
• Net sales $4.8B, -3.7% y/y, EST $4.81B. IN LINE
• Gross margin 39.2% vs. 40% y/y, EST 39.6%. MISS
• SG&A expense $1.9B, -2.6% y/y, EST $1.98B. MISS
• GUIDANCE:
• Raised guidance from 2.45-2.85 to 2.55-2.9.
• Raised by 4%
• Beat estimates by 4%, although is a wide guidance
• Sees Net sales at 22.3-22.9B, raising bottom end up slightly from 22.2B.
• More or less in line with guidance.
• Merchandise margins down 100bps due to additional discounting
• Merchandise inventories are well positioned for upcoming summer season
• Credit card revenues down slightly due to higher delinquency rates
• Turnaround plan showing signs of progress as they beat and raise guidance.

LOWES:

• Current quarter:
• EPS of 3.67 beat estimates of 2.95
• Revenue of 21.4B was down YOY by 4%, but beat estimates by 1.3%
• Comparables sales were down 4%
• Reaffirms FY guidance:
• EPS of 12-12.3 vs estimate of 12.19. So miss slightly by 0.4%
• Revenue of 84-85B, basically in line.
• EXPECTS COMPARABLE SALES TO BE DOWN 2-3% vs estimates of 2.43% down.

MAG 7:

• MSFT yesterday, said that Copilot Plus PCs will be based on Qualcomm’s snapdragon X Elite chips, and will offer 15 hours of web browsing and 20 hours of video battery life. MSFT says it’ll outperform MacBook Air.
• On Copilot Plus, Neural processor enables new AI features such as recall for a searchable PC memory.
• MSFT estimates 50 million AI PCs will be sold over the next year. Said its rearchitectured Windows 11 is 58% faster than Apple’s MacBook Air.
• MSFT - restructures Windows 11 for better ARM hardware support and AI integration. Introduces prism emulator, launched to improve compatibility with older x86 and x64 apps. MSFT says Prism emulator is 20% faster than previous versions.
• AAPL - Files law suit to overturn $1.8B EU antitrust fine over App Store rules. AAPL is challenging a 1.8B fine.
• MSFT - OpenAI will be sued by Scarlett Johansson for basically copying her voice against her explicit instruction not to.
• TSLA - Tesla shareholder group still not happy with Elon Musk’s $56B pay package. Urged other investors to reject a $56B pay package.

OTHER COMPANIES:

• XPEV higher on their strong earnings
• MACYS higher on improving picture
• LOW - higher on earnings
• Crypto stocks higher on strong Bitcoin performance
• LRCX 10-1 stock split
• PANW lower on eanrings, seems harsh to me. Other crypto names down in sentiment.
• Chinese stocks lower as Hong Kong MARKET down 1.5% today.
• NOVA - Piper Sandler downgrades Sunnova Energy to neutral from overweight, lowered price target to 4.50 from 9. Analyst had upgraded sun nova in December on expectation of lower rates, but rates have stayed high.
• Li - postpones the launch of its all electric SUVs to the first half of 2025, citing inadequate charging stations and other constraints. CEO emphasised the need for sufficient branded charging stations and more display spots.
• DOWN 4% AGAIN TODAY ON THIS.
• BABA - Alibaba cloud slashes prices for its latest LLM model, Tongyi Qianwen, by up to 97%
• BIDU - in response to Alibaba’s move, BIDU made its ENITRE Speed and ENIRE lite models entirely free to use.
• So we are seeing price wars in AI market.
• JPM says that they will not be increasing buybacks of JPM stock at these prices. Will just continue with previously outlined buyback pace.
• Jamie Dimon also hinted at retirement in the speech, hence JPM lower yesterday
• DELL - Citi raises dell price target to 170 from 125. Optimistic they can gain market share more in AI.
• JD - announces a proposed offering of $1.5B in convertible senior notes, due 2029. Will use proceeds to repurchase shares and expand overseas business.
• PTON - plans global refinancing to address debt. Secured nearly $1.4B in new credit facilities.
• ASML and TSM said they have measures in place to remotely disable advanced EUV chip making machines if China was to invade Taiwan.
• QCOM - shares were higher yesterday after Several big companies including Dell and MSFT announced AI laptops using Qualcomm’s snapdragon X elite chip. MSFT says these devices will outperform apple MacBook Air M3.
• ARM - MSFT will announce Arm powered laptops
• WEN - launches a $3 breakfast deal, including small seasoned potatoes, choice of bacon, eggs and cheese or sausage, eggs and cheese muffin. Rivals Mcdonalds $5value meal
• DASH - expanded its partnership with ULTA beauty to offer on demand delivery in under an hour from 1350 stores across all 50 states.
• VFS - US regulators are probing a vin fast VF 8 Crash, that killed 4 in California.
• LLY - secures china approval for diabetes drug, Tirzepatide. Received approval in China for its diabetes drug.
• BA - one killed on Singapore Airlines Boeing 777 due to severe turbulence.
• DIS - Redburn upgrades to neutral from Sell. Price target 100.
• Samsung - appoints new chief for its chip business, amid competition.

OThER NEWS:

• BTC higher to 72K.
• ETH popped 20% yesterday on renewed optimism for ETF, that SEC might green light spot ether ETFs ahead of first deadline later this week.
• Yardeni research sees Dow Jones DJI at 60k and SPX at 8k by 2030
• Mester’s comments yesterday:
• 3 rate cuts this year is no longer appropriate.
• April CPI was good, but too soon to say what path inflation is on. She said she doesnt think about rate cuts in terms of when. We can raise rates but its not base case. That’s bearish, but also unrealistic. I think there’s less risk now that we are too restrictive, and inflation risks are to upside.
• BEARISH COMMENTS FROM MESTER OVERALL
• Jefferson’s Comments yesterday:
• April inflation was encouraging. Labour market coming into better balance. Inflation decline isn’t as fast as we had liked. Policy is restrictive. - NEUTRAL comments, I’d say.
• Following these comments, Bank of America said that whilst the bar for rate hikes is still v high, rate cuts are still far off. Said Services inflation still running way above target.
• Bank of America believes markets got excited at the print, said markets pricing 50bps of cuts are likely to get disappointed.
• Did push back on stagflation narrative.
• SPACEX Q1 launch report shows that SpaceX is now launching 87% of all payload to orbit, a new record high.
• New Yorkers on average earned $89K last year, meaning that without spending more than 30% of annual income on rent, they can afford $2,216 on housing. That’s only enough to afford 4.4% of rentals.
• Marko Kolanovic held his bearish outlook on stocks, urging clients not to buy. So not all bears are capitulating.
• Fidelity ethereal fund says that the trust’s Ether will not be staked.
• IMF official expects next stage for BOE is to ease rates, says UK monetary policy is at inflection point. Actions by UK authorities are paying off.
• Said BoE should cut rates by 50-75bps in 2024.
• Upgraded UK growth forecast to 0.7% this year from 0.5% previously
• Dubai Airport expects record passenger traffic this year, set to top 100M by 2027.

For more of my content, please join Tradingedge

Hi everyone, I wasn't sure what subreddit to post this in so I'm sorry if this isn't correct. If anyone could post me in the right direction that would be great as I'm struggling to find answers online. I'm from Scotland, UK.
Basically I'm looking for information on what a company can gain from being in partnership with an educational facility. We are a further education college looking to partner up with a farm to allow us to teach using their animals and facilities, we can't offer any money to them through in exchange for this. They are wondering if there is any tax relief or funding available from the government, or if they can register as an educational facility themselves? They are lovely people who have been very good to us so far so we want to hep them however we can, I'm just not having a lot of luck searching the web for answers.
Thank you ☺️

Australia is the Biggest Fantasy Sports gaming hub . there are Multiple sports App like Football, Basketball, Baseball, Golf, Soccer, Hockey, Cricket, and Auto-racing. Fantasy Sports is a game of both strategy and chance, the probability of winning these games depend on how well you create the teams and how they perform in the real ground .We help you build advanced admin module from where one can easily manage games, view earnings, Manage contest, manage reward points, manage bank withdraw request and maintain customer relationship effortlessly.
Top 5 Best Fantasy App Provider in Australia

1. BR Softech > BR Softech is a leading fantasy sports app development company. We help you develop an advanced platform that covers multiple sports App like Football, Basketball, Baseball, Golf, Soccer, Hockey, Cricket, and Auto-racing. We integrate Fantasy Sports API for real-time information on leagues, teams, and players. we Develop robust and scalable fantasy sports App solutions for web and mobile applications with us. BR Softech is an award winning 9001: 2008 certified iGaming Development Company, known for exceptional and world-class software solutions across the globe. Headquartered in Jaipur, India,it also operates and has offices in countries like the USA, the UK, Canada, Australia, Hong Kong, Singapore and the UAE. Established in 2012, we have provide iGaming solution like Sport betting ,Casino games, sportbook ,fantasy sport app development.we provider these services these are :

1 Sport Betting
2. Casino Games
3 Fantasy Sport
4 Poker Games
5 Mobile Game Development
6 Online Casino
2 Ripen Apps > This sports app development company creates sports software and apps that are unique and effective. They specialize in developing solutions for sports organizations, teams, and athletes. Their services include developing software for sports management, athlete performance tracking apps, sports event management platforms We have provide these services.
1 Sport Games
2. Ludo Games
3 Teen pati
4 Mobile App Development
3 Anadea > They are a sports software development company that specializes in creating bespoke solutions to meet the unique needs of sports organizations. They offer a range of services, including sports management software, fantasy sports app development, and sports betting platforms. Their team of developers, designers, and project managers works closely with clients to understand their specific needs and deliver tailored solutions.
1 ludo Games
2. Puzzle Games
3 Teen pati
4 App Development
4 Techcronus > They are one of the most popular fantasy sports app development companies in Australia. They offer a wide range of fantasy apps for cricket, hockey, rugby, and more. They provide a feature-rich Fantasy Sports website along with iOS and Android apps that come with a robust backend admin panel. With its cutting-edge and user-focused functionality, this admin panel will drive sports organizations into the future thanks to its industry-leading features.
1 Teen Pati Games
2. Ludo Games
3 Puzzle
4 App Development
5 Appetiser > Establishes itself as a trusted partner for professional sports app development. They deliver top-tier mobile app development solutions by integrating all the essential features crucial to your sports app’s needs. With a deep understanding of your business requirements, they incorporate relevant elements into the mobile apps they create. Their expertise includes sports app development, fantasy sports app development, sports web portal, league management, and more.
1 Slot Games
2. Teen pati Games
3 Puzzle
4 Software Development

Final Words

By now you might have got all the insights you need for what are the most popular online fantasy sports games in Australia. There is a varied range of Australian sportsbooks available out there offering a wide range of fantasy sports games to play and place bets on. You can choose any of the above-mentioned games to get an immersive and engaging gameplay experience.
Australia is a major hub for fantasy sports as the market is growing day by day, which is why a lot of business owners hire Fantasy Sports Software Company to achieve a huge user base and maximized revenue.

Bought this switch brand new and used it for around a month, upgraded to the 24 port model so I'm listing this for sale. In pristine condition and has less then 500 hours on time.
Product page and features: https://www.tp-link.com/us/business-networking/omada-sdn-switch/tl-sg3210xhp-m2/
Web panel demo: https://emulator.tp-link.com/emulator_TL-SG3210XHP-M2_V2/index.html
Images: https://imgur.com/a/kW7438T
Starting price: £300
PM or post offers
Interface

• 8× 100/1000/2500 Mbps RJ45 Ports
• 2× 10G SFP+ Slots
• 1× RJ45 Console Port
• 1× Micro-USB Console Port

PoE Ports (RJ45)

• Standard: 802.3at/af compliant
• PoE+ Ports: 8 Ports
• PoE Power Budget: 240 W

Dimensions ( W x D x H ) 17.3 × 7.1 × 1.7 in. (440 × 180 × 44 mm)
Features:
Quality of Service

• 8 priority queues
• 802.1p CoS/DSCP priority
• Queue scheduling
• SP (Strict Priority)
• WRR (Weighted Round Robin)
• SP+WRR
• Bandwidth Control
• Port/Flow based Rating Limiting
• Smoother Performance
• Action for Flows
• Mirror (to supported interface)
• Redirect (to supported interface)
• Rate Limit
• QoS Remark

L3 Features

• 16 IPv4/IPv6 Interfaces
• Static Routing
• 48 static routes
• Static ARP
• 128 Static Entries
• Proxy ARP
• Gratuitous ARP
• DHCP Server
• DHCP Relay
• DHCP Interface Relay
• DHCP VLAN Relay
• DHCP L2 Relay

L2 and L2+ Features

• Link Aggregation
• static link aggregation
• 802.3ad LACP
• Up to 8 aggregation groups, containing 8 ports per group
• Spanning Tree Protocol
• 802.1d STP
• 802.1w RSTP
• 802.1s MSTP
• STP Security: TC Protect, BPDU Filter, Root Protect
• Loopback Detection
• Port based
• VLAN based
• Flow Control
• 802.3x Flow Control
• HOL Blocking Prevention
• Mirroring
• Port Mirroring
• CPU Mirroring
• OnetoOne
• ManytoOne
• Tx/Rx/Both

L2 Multicast

• IGMP Snooping
• IGMP v1/v2/v3 Snooping
• Fast Leave
• IGMP Snooping Querier
• IGMP Authentication
• IGMP Authentication
• MLD Snooping
• MLD v1/v2 Snooping
• Fast Leave
• MLD Snooping Querier
• Static Group Config
• Limited IP Multicast
• MVR
• Multicast Filtering: 256 profiles and 16 entries per profile

Advanced Features

• Support Omada Hardware Controller (OC200/OC300), Software Controller, Cloud-Based Controller
• Automatic Device Discovery
• Batch Configuration
• Batch Firmware Upgrading
• Intelligent Network Monitoring
• Abnormal Event Warnings
• Unified Configuration
• Reboot Schedule
• ZTP (Zero*Touch Provisioning)

VLAN

• VLAN Group
• Max 4K VLAN Groups
• 802.1Q Tagged VLAN
• MAC VLAN: 7 Entries
• Protocol VLAN: Protocol Template 16, Protocol VLAN 16
• Private VLAN
• GVRP
• VLAN VPN (QinQ)
• Port*Based QinQ
• Selective QinQ
• Voice VLAN

Access Control List

• Time-Based ACL
• MAC ACL
• Source MAC
• Destination MAC
• VLAN ID
• User Priority
• Ether Type
• IP ACL
• Source IP
• Destination IP
• Fragment
• IP Protocol
• TCP Flag
• TCP/UDP Port
• DSCP/IP TOS
• User Priority
• Combined ACL
• Packet Content ACL
• IPv6 ACL
• Policy
• Mirroring
• Redirect
• Rate Limit
• QoS Remark
• ACL apply to Port/VLAN

Security

• IP-MAC-Port Binding
• 512 Entries
• DHCP Snooping
• ARP Inspection
• IPv4 Source Guard: 100 Entries
• IPv6-MAC-Port Binding
• 512 Entries
• DHCPv6 Snooping
• ND Detection
• IPv6 Source Guard: 100 Entries
• DoS Defend
• Static/Dynamic Port Security
• Up to 64 MAC addresses per port
• Broadcast/Multicast/Unicast Storm Control
• kbps/ratio control mode
• 802.1X
• Port base authentication
• Mac base authentication
• VLAN Assignment
• MAB
• Guest VLAN
• Support Radius authentication andaccountability
• AAA (including TACACS+)
• Port Isolation
• Secure web management through HTTPS with SSLv3/TLS 1.2
• Secure Command Line Interface (CLI) management with SSHv1/SSHv2
• IP/Port/MAC based access control IPv6
• IPv6 Dual IPv4/IPv6
• Multicast Listener Discovery (MLD) Snooping
• IPv6 ACL
• IPv6 Interface
• Static IPv6 Routing
• IPv6 neighbor discovery (ND)
• Path maximum transmission unit (MTU) discovery
• Internet Control Message Protocol (ICMP) version 6
• TCPv6/UDPv6
• IPv6 applications
• DHCPv6 Client
• Ping6
• Tracert6
• Telnet (v6)
• IPv6 SNMP
• IPv6 SSH
• IPv6 SSL
• Http/Https
• IPv6 TFTP

Management

• Web-based GUI
• Command Line Interface (CLI) through the console port, telnet
• SNMP v1/v2c/v3
• Trap/Inform
• RMON (1,2,3,9 groups)
• SDM Template
• DHCP/BOOTP Client
• 802.1ab LLDP/LLDP*MED
• DHCP AutoInstall
• Dual Image, Dual Configuration
• CPU Monitoring
• Cable Diagnostics
• EEE
• Password Recovery
• SNTP
• System Log

MIBs

• MIB II (RFC1213)
• Interface MIB (RFC2233)
• Ethernet Interface MIB (RFC1643)
• Bridge MIB (RFC1493)
• P/Q-Bridge MIB (RFC2674)
• RMON MIB (RFC2819)
• RMON2 MIB (RFC2021)
• Radius Accounting Client MIB (RFC2620)
• Radius Authentication Client MIB (RFC2618)
• Remote Ping, Traceroute MIB (RFC2925)
• Support TP-Link private MIB

I’m interested in buying the Cloud Gateway Ultra, along with the Ultra Switch and a couple Flex Mini’s. However all are out of stock on the UK store. How long does it usually take to re-stock?
I’m visiting USA soon, are they any disadvantages to purchasing them all there as they’re in stock on the US web site.

I will continue to update this post as reviews come in.
Rotten Tomatoes: Certified Fresh
Critics Consensus: A deceptively dark thriller that's also loaded with laughs, Hit Man is an outstanding showcase for leading man Glen Powell -- and one of the most purely entertaining films of Richard Linklater's career.

	Score	Number of Reviews	Average Rating
All Critics	96%	81	8.30/10
Top Critics	93%	27	8.00/10

Metacritic: 82 (21 Reviews)
Sample Reviews:
“Hit Man” is studded with delicious moments, but as amusing as the movie is it has a plot that sprawls forward in a rather ungainly fashion, and it goes on for too long. - Owen Gleiberman, Variety
Smart and steamy screwball fun. - Leslie Felperin, Hollywood Reporter
The comedy is a deliriously entertaining star vehicle for actor Glen Powell. - Ben Croll, TheWrap
“Hit Man,” Linklater’s latest film, falls into the fun-with-a-heart (and brain) category. It’s got a lot going for it. For one thing, there’s Linklater’s deft touch, particularly when juggling comedy and romance (with a little crime drama thrown in). 4/5 - Bill Goodykoontz, Arizona Republic
A smartly written, sublimely comedic, and sexy human-scale relationship story with a touch of just enough suspense and hints of criminality to prove that its title is not a complete misnomer. 4/5 - Cary Darling, Houston Chronicle
In the hands of a lesser director, Hit Man would surely have felt rather thin and disposable. But Linklater is a pro, and he manages to make the film’s fripperies feel borderline profound. 4/5 - Xan Brooks, Guardian
An intelligent comedy that contains plenty of laugh-out-loud moments and references Kant and Nietzsche, it is also a thriller that is darker than it first appears. - Jo-Ann Titmarsh, London Evening Standard
Hit Man trips along on great writing, Linklater’s witty, light-touch direction and a rich sense of place, but what makes it especially pleasurable is Powell and Arjona’s naturally steamy rapport. 4/5 - Robbie Collin, Daily Telegraph (UK)
... An effervescent comedy from Richard Linklater that simultaneously snubs its nose at the entire genre while easily nabbing the honour of most purely entertaining film to grace the Lido so far. 4/5 - Kevin Maher, Times (UK)
Another, crueller writer-director would have pivoted to scenes of bloody violence, but Linklater prefers to ponder the question of whether you can will yourself into becoming a different person. 4/5 - Nicholas Barber, BBC.com
A sorta-true story about an average guy who finds himself caught in a web of crime and deception, Hit Man is a cute and clever (sometimes overbearingly so) showcase for Powell’s magnetic charm. - Richard Lawson, Vanity Fair
The police scenes are just light enough to be funny, the screwball sequences are just dark enough to keep you on the edge of your seat, and Powell... is obviously elated to be handling such twisty material. - Shirley Li, The Atlantic
This genial comedy/noir is a genuine crowdpleaser – funny, sexy, clever and confident in building a low-key humour which hits the target over and over again. - Fionnuala Halligan, Screen International
It’s a genuinely riotous time at the cinema and concrete proof Powell is perhaps our brightest hope when it comes to keeping the notion of the movie star alive. - Hannah Strong, Little White Lies
Hit Man is hot and hilarious, a winning combination amplified by a story that gets knottier at every turn. - Nick Schager, The Daily Beast
Powell’s ability to power through some dull material on charm alone only reaffirms the credibility of his stardom, and the film’s general lack of ambition keeps things from going awry whenever a joke doesn’t land. Aim small, miss small. B- - David Ehrlich, indieWire
I’s just fun to watch good old-fashioned comedy in which love, danger, and happy endings are all part of a damn fine evening at the movies. - Alissa Wilkinson, Vox
With Richard Linklater’s Hitman, the charismatic Glen Powell has been offered a plum opportunity to shape his image into something more complicated and often poignant. 3/4 - Zach Lewis, Slant Magazine
[A] light-and-lively comedy. - Jordan Hoffman, The Messenger
Comfortably Linklater’s best movie since Boyhood, Hit Man stands alongside School of Rock for big laughs and good vibes – albeit with a darker streak that slowly kicks in. 4/5 - Philip De Semlyen, Time Out
Powell and Linklater would have done better to take Johnson’s story as a launching point and then spun off into their far more complicated version of his life without literally tethering the movie to a real person. - Alonso Duralde, The Film Verdict
Linklater has long had a gift with playful humor, and he nails the tone here without turning “Hit Man” into the slapstick it could have become. - Brian Tallerico, RogerEbert.com
A comedy/thriller that’s in equal parts charming, nerve-wracking, and ethically challenging. - Glenn Kenny, RogerEbert.com
Every interesting aspect of the true story and the imagined story are smoothed out. - Drew Gregory, Autostraddle
The smoldering, wily, wild-but-true Hit Man returns Linklater to his loquacious take on romance, with a man using his gift of gab to shrug off himself. - Charles Bramesco, Inside Hook
A witty, relaxed, and cheerfully fictionalized comedy-caper-romance; in the bargain there’s some light philosophical meditations on the impermanence of personality. 4/4 - Ty Burr, Ty Burr's Watch List
It’s as if Linklater is playing posthumous wingman for his subject, giving him the rom-com-slick Hollywood ending he never got in life. - Keith Uhlich, (All (Parentheses))
SYNOPSIS:
Oscar-nominated director Richard Linklater’s sunlit neo-noir stars Glen Powell as strait-laced professor Gary Johnson, who moonlights as a fake hit man for the New Orleans Police Department. Preternaturally gifted at inhabiting different guises and personalities to catch hapless people hoping to bump off their enemies, Gary descends into morally dubious territory when he finds himself attracted to one of those potential criminals, a beautiful young woman named Madison (Adria Arjona). As Madison falls for one of Gary’s hit man personas — the mysteriously sexy Ron — their steamy affair sets off a chain reaction of play acting, deception, and escalating stakes. Co-written by Linklater and Powell and inspired by an unbelievable true story, Hit Man is a cleverly existential comedy about identity.
CAST:

• Glen Powell as Gary Johnson
• Adria Arjona as Maddy Masters
• Austin Amelio as Jasper
• Retta as Claudette

DIRECTED BY: Richard Linklater
SCREENPLAY BY: Richard Linklater, Glen Powell
BASED ON THE TEXAS MONTHLY ARTICLE BY: Skip Hollandsworth
PRODUCED BY: Mike Blizzard, Richard Linklater, Glen Powell, Jason Bateman, Michael Costigan
EXECUTIVE PRODUCERS: Stuart Ford, Zach Garrett, Miguel A. Palos Jr., Shivani Rawat, Julie Goldstein, Vicky Patel, Steve Barnett, Alan Powell, John Sloss, Scott Brown, Megan Creydt
DIRECTOR OF PHOTOGRAPHY: Shane F. Kelly
PRODUCTION DESIGNER: Bruce Curtis
EDITED BY: Sandra Adair
COSTUME DESIGNER: Juliana Hoffpauir
MUSIC BY: Graham Reynolds
MUSIC SUPERVISORS: Randall Poster, Meghan Currier
CASTING BY: Vicky Boone
RUNTIME: 115 Minutes
RELEASE DATE: May 24, 2024 (Limited Theatrical in US; Wide Theatrical in Canada) / June 7 (Netflix)

Context: I have a shared mullvad vpn subscription and i can only have one device. I have a Cloud VM instance where my gluetun container is running along with some other services like transmission torrent, jackett etc. I have nginx reverse proxy setup along with a domain on cloudflare.
My goal is to connect to the gluetun (for mullvad vpn) shadowsocks proxy using a shadowsocks client on my iphone or other devices. I did setup nginx reverse proxy for 8388 port along with subdomain, but ss client just wont connect for some reason.
I have read about shadowsocks and had it setup almost a year back. I am not sure if i am doing something wrong with glueton or maybe my nginx config? am i missing something here?
My docker compose for gluetun looks like this:

 gluetun: container_name: gluetun image: qmcgaw/gluetun:latest cap_add: - NET_ADMIN environment: - VPN_SERVICE_PROVIDER=mullvad - VPN_TYPE=wireguard - WIREGUARD_PRIVATE_KEY=**** - WIREGUARD_ADDRESSES==**** - SERVER_COUNTRIES=USA - SHADOWSOCKS=on - SHADOWSOCKS_PASSWORD=**** - SHADOWSOCKS_CIPHER=aes-256-gcm ports: - 9091:9091 #Transmission Web Traffic (Allow you to talk to Transmission) - 51413:51413 #Transmission - 51413:51413/udp #Transmission - 9117:9117 #jackett - 8191:8191 #flaresolverr - 8388:8388/tcp #shadowsocks - 8388:8388/udp #shadowsocks restart: unless-stopped 

I'm using Node.js with Puppeteer for web scraping on LinkedIn Navigator. However, I'm getting blocked after scraping around 30 to 40 pages. My goal is to scrape at least 80-100 pages.
I've also built a front-end solution where I manipulate the DOM, take the URL, loop through the DOM elements, and handle pagination. To make it appear more human-like, I slowed down the DOM manipulation process. However, I still face the same blocking issue after around 35-40 pages.
I've tried using proxies as well, but the issue persists in Node.js. Additionally, most web scraping API and SDK solutions, such as Zenscrape, ScraperAPI, and many others, don't support LinkedIn Navigator.
Does anyone have any tips or strategies to prevent getting blocked? Any advice on how to achieve this goal would be greatly appreciated. Thanks!