IXIC: Nasdaq Composite Gains 0.2% as Few Select Tech Giants Do the Lifting

Meta’s Zuck is no longer living in denial – the company said it’s cutting the metaverse budget by as much as 30%. Is anyone even there?

📈 Nasdaq Rises on Select Tech Muscle

• The Nasdaq Composite index IXIC inched up 0.2% as a small group of mega-cap tech names did most of the heavy lifting. Broader markets were mixed, but tech found just enough buyers to nudge higher.
• Meta gained 3.4% after reports it plans to slash its metaverse budget by up to 30%. Turns out even Zuck knows when the party’s over – or when no one’s showing up for virtual Sweet Baby Rays BBQ.
• Salesforce added 3.7% after raising full-year guidance, crediting stronger traction for its AI offerings. Investors love revenue, but profitable AI revenue? Now we’re talking.

🧮 Labor Data Adds a Twist

• Weekly jobless claims unexpectedly fell to a three-year low, hinting the labor market still has a pulse despite recent pullback fears.
• A separate layoffs report showed cuts easing in November after an October spike, though total 2025 layoffs have already topped 1.1 million – the highest since 2020 (remember the Covid crash?).
• Corporate downsizing remains brisk, but apparently even AI-assisted pink slips need holiday breaks.

🏆 Bitcoin Briefly Turns Green for 2025

• Bitcoin popped above $93,300 Thursday, reclaiming its 2025 starting level before fading slightly. Even a shaky macro backdrop couldn’t keep crypto traders from hunting a year-to-date win.
• The rebound helped improve risk sentiment overall, offering a psychological boost to markets that have been struggling for direction.
• Still, with rate-cut expectations guiding flows, crypto, equities and even small caps are moving in tandem. December’s narrative: follow the liquidity, not the hype.