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A Sobering Start For 2024 - Just My View with Andrew O'Donnell

A Sobering Start For 2024 - Just My View with Andrew O'Donnell

Duration 9m

2024 is here with a sobering start. Canadian futures stagger amidst declining metal prices fueled by a robust U.S. dollar. Investor brace for U.S. data releases and the Federal Reserve's latest policy meeting minutes, triggering a cautious approach in Wall Street and European shares while Hong Kong stocks persist in their decline. Amidst this volatility, oil prices remain stagnant due to Red Sea tensions, while gold steadfastly holds above $2,000, heralding expectations of a significant year ahead. However, Canada faces a sharp contraction in its factory sector, juxtaposed against a near three-year low in U.S. job openings, signaling a period of economic strain.Tech giants undergo fluctuations, with Apple grappling with downgraded shares while murmurs of NVIDIA being the standout for 2024 gain momentum. The intersection of AI and energy emerges as a pivotal theme, amidst a divisive climate. While global investment in oil and gas experiences an uptick, uranium's demand surges, aligning with the escalating role of nuclear energy in the clean energy paradigm. Meanwhile, biotechnology, particularly gene editing firms like CRISPR and Beam, garners attention, hinting at potential breakthroughs.In the realm of AI, VERSES unveils an innovative Active Inference approach, poised to rival deep learning models while demanding significantly lesser data and computations, sparking intrigue in the pursuit of Artificial General Intelligence (AGI). The intricate dance between market volatility, technological advancements, and shifting energy paradigms sets the stage for a year brimming with potential and complexity.