Sou Hu Cai Jing·2025-12-10 23:48Market Overview - The Federal Reserve announced its third interest rate cut of the year and plans to purchase short-term bonds, interpreted as "not QE's QE" [1] - U.S. stock indices closed higher, with small-cap stocks leading the market [1] - Oracle's post-earnings drop exceeded 10%, dragging Nvidia down over 1% in after-hours trading [1] Bond Market - U.S. Treasury yields fell across the board, with the two-year yield dropping over 7.6 basis points [2] - The 10-year benchmark Treasury yield decreased by 4.10 basis points, settling at 4.1468% [11] Commodity Market - Precious metals saw a broad increase, with gold rising 0.53% and silver hitting new highs with a daily increase of over 2% [2][11] - Crude oil experienced a significant rebound, with WTI crude rising over 2.2% from its daily low [2] Real Estate Sector - The real estate sector surged at midday, driven by discussions around Vanke's bond extension and expectations for "mortgage interest subsidies" [3][17] - Various cities in China have introduced home loan interest subsidy policies, indicating a supportive environment for the real estate market [17] Economic Indicators - China's November CPI rose 0.7% year-on-year, the highest since March 2024, while PPI showed an expanded decline [16] - The increase in CPI was primarily driven by a shift in food prices from decline to increase, while the core CPI rose 1.2% year-on-year [16] Company News - Oracle's earnings report showed revenue and cloud business falling short of expectations, with capital expenditures exceeding forecasts by approximately $15 billion, leading to a post-market drop of over 10% [5][21] - Meta is shifting its strategy under Zuckerberg's leadership, moving towards a profit-oriented closed-source AI model with the introduction of Alibaba's Qwen for training [6][22] Industry Trends - The silver market is experiencing historic growth, driven by increased demand in solar energy, electric vehicles, and data centers, with expectations for continued industrial demand over the next five years [4][21] - The autonomous driving sector is projected to reach a market size of $1-1.2 trillion, with a critical cost threshold of $2 per mile identified as a potential inflection point [8]