Group 1: Global Economic Outlook - Major global economies are expected to end their interest rate cuts by the end of 2026, with the OECD predicting only two more rate cuts by the Federal Reserve, bringing the rate down to 3.25%-3.50% [2] - The European Central Bank is set to begin its easing cycle in June 2024, with a total of eight rate cuts anticipated [2] - Japan is experiencing a unique tightening cycle, potentially accelerating rate hikes to counter inflation pressures from new government policies [3] Group 2: China's Monetary Policy - The People's Bank of China conducted a 10 trillion yuan reverse repurchase operation, indicating a focus on maintaining liquidity in the market [4] - Despite the need for more aggressive monetary policy due to slowing economic growth, the central bank has remained silent on interest rate cuts, emphasizing long-term policy adjustments [5] Group 3: E-commerce and Delivery Standards - New national standards for food delivery platforms have been implemented, focusing on the rights of delivery personnel and ensuring fair labor practices [6] - The standards require platforms to calculate delivery times based on a maximum speed of 15 km/h for electric bike riders, which may impact delivery efficiency [7] Group 4: Real Estate Market Trends - The second-hand housing market in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen showed significant increases in transaction volumes in November, driven by demand for affordable housing [8] - The overall market remains in a state of price-volume exchange, with some cities showing signs of price stabilization, but the recovery foundation is still fragile [9] Group 5: E-sports Industry Growth - The Chinese e-sports industry is projected to generate 29.331 billion yuan in revenue by 2025, with a year-on-year growth of 6.4% [10] - Live streaming continues to dominate revenue sources, accounting for over 80% of total income, indicating a reliance on consumer engagement [10][11] Group 6: Meta's Strategic Shift - Meta's CEO Mark Zuckerberg plans to cut the budget for the metaverse project by up to 30%, shifting focus towards AI and related hardware products [12] - The metaverse sector has seen slow technological advancement, leading to a strategic pivot towards AI, which presents clearer business opportunities [12] Group 7: Stock Market Performance - The stock market experienced a rebound, with significant gains in the Shanghai Composite Index and the ChiNext Index, driven by expectations of potential interest rate cuts [14] - The trading volume increased significantly, indicating active market participation and a potential shift in investor sentiment [14][15]

Core Viewpoint - Meta CEO Mark Zuckerberg plans to significantly reduce resources allocated to the "metaverse" project, which he previously positioned as the company's future direction [3][4] Group 1: Budget Cuts and Financial Implications - Meta executives have discussed a potential budget cut of up to 30% for the metaverse department in the upcoming year, which includes products like Meta Horizon Worlds and the Quest virtual reality business [3][4] - The proposed cuts are part of Meta's 2026 annual budget planning and may lead to layoffs as early as January 2026 [3][4] - Following the announcement, Meta's stock rose by 3.4% [4] Group 2: Strategic Shift and Focus - Due to a lack of anticipated competition in the metaverse technology sector, Meta's metaverse business is facing deeper cuts, primarily affecting its virtual reality operations [4] - The Reality Labs department, responsible for the metaverse and related technologies, has incurred losses exceeding $70 billion since early 2021 [5] - Analysts have suggested that Zuckerberg should consider divesting from Reality Labs, which has been a significant resource drain without generating substantial revenue [6] Group 3: Future Directions - Despite the cuts, Meta remains committed to developing consumer hardware products and has recently hired a chief design executive from Apple [8] - Zuckerberg has shifted focus from the metaverse to large AI models that support AI chatbots and other generative AI products, indicating a strategic pivot in the company's priorities [5]

Core Viewpoint - The U.S. stock market is experiencing fluctuations, with Meta's stock rising significantly due to anticipated budget cuts in its metaverse projects, which have been a source of investor skepticism [2][5][7]. Economic Data - Initial jobless claims in the U.S. fell to 191,000, the lowest level in over three years, indicating that companies are generally retaining employees despite recent layoffs [4]. - The number of layoffs announced by U.S. companies in November decreased from October but remained the highest for that month in the past three years [4]. Federal Reserve Expectations - There are increasing signs of a cooling labor market, leading to a high probability (89%) that the Federal Reserve will cut interest rates by 25 basis points in its upcoming meeting [5]. Meta's Stock Performance - Meta's stock surged nearly 4%, marking it as one of the standout performers in the market [5]. - CEO Mark Zuckerberg is expected to significantly reduce investments in the metaverse, with potential budget cuts of up to 30% for related departments [5][6]. Metaverse Project Insights - The proposed budget cuts for the metaverse are part of the company's 2026 annual budget planning, with discussions indicating a focus on reducing costs across various business lines by about 10% [6]. - The Reality Labs department, which oversees the metaverse projects, has incurred losses exceeding $70 billion since early 2021, raising concerns among analysts and investors about the sustainability of such investments [7].

Core Viewpoint - The article discusses the recent fluctuations in the US stock market, highlighting a significant rise in Meta's stock price due to anticipated budget cuts in its metaverse projects, which have been a source of investor skepticism and financial losses for the company [1][4][8]. Market Overview - On December 4, US stock indices showed slight fluctuations, with the Dow Jones remaining stable, while the Nasdaq and S&P 500 experienced minor declines of -0.09% and -0.05% respectively [2]. - Initial jobless claims in the US fell to 191,000, the lowest level in over three years, indicating that despite recent layoffs, companies are generally retaining employees [2][3]. - The labor market is showing signs of cooling, leading to expectations that the Federal Reserve may lower interest rates by 25 basis points in its upcoming meeting [3]. Meta's Stock Performance - Meta's stock surged nearly 4%, marking it as one of the standout performers in the market [4]. - The stock reached a high of $676.10, with a trading volume of approximately 17.3 million shares and a market capitalization of $1.68 trillion [6]. Budget Cuts in Metaverse Projects - CEO Mark Zuckerberg is reportedly planning to significantly reduce the budget for metaverse-related projects by up to 30%, which includes the Meta Horizon Worlds and Quest VR devices [8]. - This budget cut is part of the company's 2026 annual budget planning and reflects a shift in focus away from the metaverse, which has been criticized as a "money-burning black hole" [8][10]. - The Reality Labs department, responsible for the metaverse initiatives, has incurred losses exceeding $70 billion since early 2021, prompting calls from analysts for a reevaluation of resource allocation [10]. Strategic Shift - Zuckerberg has increasingly shifted focus from the metaverse to generative AI products and related hardware, indicating a strategic pivot in the company's long-term vision [10].