Core Viewpoint - The article highlights a significant surge in Meta's stock price, driven by the company's decision to cut its metaverse project spending by up to 30%, amidst mixed macroeconomic data indicating a potential shift in Federal Reserve interest rate policy [2][4]. Group 1: Meta's Stock Performance - Meta's stock price experienced a sharp increase, rising nearly 6% at one point, marking the largest intraday gain since July 31, with a closing increase of 4.2%, bringing its total market capitalization to $1.68 trillion (approximately 11.88 trillion RMB) [2][4]. - The surge in Meta's stock is attributed to CEO Mark Zuckerberg's announcement of substantial budget cuts for the metaverse division, which includes products like Meta Horizon Worlds and Quest virtual reality [4][5]. Group 2: Metaverse Budget Cuts - Reports indicate that Meta's management is considering a budget reduction of up to 30% for its metaverse department, which has been a focal point of the company's long-term strategy [4][5]. - The proposed cuts are part of the company's budget planning for the fiscal year 2026, with a broader directive for executives to seek a 10% budget reduction across the board [4][5]. Group 3: Labor Market Data - Recent labor market data from the U.S. Department of Labor shows that initial jobless claims fell to 191,000, below market expectations, indicating a tightening labor market [6][7]. - However, Revelio Labs reported a decrease of 9,000 non-farm jobs in November, continuing a downward trend, with October's job data revised to show a loss of 15,500 jobs [6][7]. - The labor market is described as stagnant, with a significant increase in planned layoffs, totaling approximately 1.171 million for the year, a 54% year-over-year increase, while planned hiring has dropped to the lowest level since 2010 [8].