Moody's downgraded the U.S. credit rating. UBS projected substantial rate cuts in 2024, foreseeing a decrease by up to 275 basis points. Consumer confidence showed signs of waning in the fourth quarter. In the geopolitical arena, U.S. President Biden and Chinese President Xi Jinping navigated tensions, with Biden focusing on reestablishing normal communication with Beijing . At COP 28, U.S. and UK, along with other nations, pledged to triple nuclear power by 2050. Berkshire Hathaway, led by Warren Buffett, streamlined its portfolio. Exxon Mobil, caught in the throes of the energy transition, deliberated over its lithium filtration technology choice, a critical step in its ambition to become a leading producer of electric vehicle batteries. Livent Corp announced its impending merger with Australia's Allkem, promising a significant shake-up in the lithium industry.