December 2024

President Vladimir Putin declined to say when Russian forces would retake the southern Kursk region from Ukraine, insisting that they were making advances “along the entire frontline,” as he began his year-end news conference.

The Moscow event on Thursday consists of a public Q&A session combined with a public phone-in, which Putin stages annually to show his sweeping control of all aspects of the country.

Asked about Russia’s southern Kursk, where Kyiv’s forces are fighting to hold onto settlements following a surprise incursion launched in August, Putin declined to commit to stating when Russia would recapture the whole region – but promised it would happen.

“I cannot and do not want to name a specific date when they will push [the Ukrainian Armed Forces out of the Kursk region],” he said.

“Our guys are fighting, there is a battle going on right now, and serious battles. It is unclear why, there was no military sense in the Ukrainian Armed Forces entering the Kursk region, or holding on there now as they are doing, throwing their best units there to be slaughtered. But nevertheless, it is happening.”

He added, “We will definitely push them out, there is no other way.”

In response to a question on how Moscow’s full-scale invasion of Ukraine – which in Russia is referred to euphemistically as the “special military operation” – was going, Putin said the “situation is changing dramatically,” as the war approaches its third year.

“Movement is going on along the entire front line, every day.”

He continued: “And as I already said, we are not talking about advancing 100-200-300 meters. Our fighters are taking and returning territory in square kilometers. I want to emphasize – every day.”

His answer comes as Ukrainian President Volodymyr Zelensky acknowledged in an interview published Wednesday that Ukraine lacks the strength to take back all its territory occupied by Russia.

Russian forces failed to capture the capital Kyiv in the early weeks of the war, but the war in the east of Ukraine has turned into a costly and brutal war of attrition.

Ukrainian forces remain in the Kursk region but have slowly ceded ground to Russian forces there. Kyiv has said North Korean troops fighting alongside Russian troops there have suffered heavy losses.

Putin did not mention North Korean troops in his reply to the caller, but promised that housing and infrastructure damaged or destroyed in the fighting would be restored.

“I understand that there is nothing good about what is happening to you,” the Russian leader said. “People are suffering heavy losses, hardships, and daily inconveniences, especially those related to children. But rest assured, we will do everything necessary. We will restore everything.”

The annual event allows citizens and journalists to ask the Russian president questions directly, providing a glimpse into Putin’s views on critical matters, and gives the Kremlin leader a platform to showcase his main talking points and address both domestic and international issues. The marathon sessions in the past have lasted well over four hours.

This year’s conference comes amid mounting economic challenges, ongoing tensions over the war on Ukraine, and increased scrutiny on Russia’s international and domestic policies as President-elect Donald Trump prepares to take office in the United States.

This post appeared first on cnn.com

Cubans crawl on rough roads to ask for good fortune

The pilgrims crawled forward, some barely inching along the rough ground with hands, knees and elbows rubbed raw.

The procession of St. Lazarus is one of the largest yearly religious processions in officially secular Cuba and also one of the most colorful.

To show their devotion, thousands of Cubans walk for miles barefoot to the small church known as El Rincón — the corner in Spanish — on the outskirts of Havana ahead of December 17, the day when the saint is celebrated.

“It was a tradition of my father’s and I have followed it for 27 years since he passed away. Lazarus grants me what I ask for,” said pilgrim Fernando Valdez, after walking without shoes for more than five hours on broken roads.

In the New Testament, Lazarus was resurrected four days after his death by Jesus and became the patron saint of the poor and the sick. Many of the Cubans asking a wish from the saint wear clothing made from rough cloth sacks to represent poverty.

Other adherents take their shows of devotion to the extreme, crawling on their stomachs or facing backwards or sometimes with cinder blocks tied to their feet to further slow them down.

Blood stains the pavement in places and medics with the Red Cross apply bandages on scraped knees and hands and pass out water to exhausted pilgrims.

Open displays of religious belief have slowly grown over the years in Cuba, which changed its constitution in 1992 to transition from an officially atheist state to a secular one. A groundbreaking visit by Pope John Paul II six years later further helped restore rights for people of faith.

Still, a heavy police presence surrounded El Rincón during the pilgrimage and officials strategically placed large posters of former Cuban leaders Fidel and Raul Castro as well of the island’s current president Miguel Diaz-Canel outside the entrance to the church.

The complexity of Cuba was also on display as many of the pilgrims are believers in Santería, an offshoot of the Yoruba religion brought to Cuba more than 200 years ago by African slaves. Forced to convert to Catholicism, the slaves blended the two faiths into a syncretic religion that spread across the island and around the Caribbean.

Believers melded African deities like Babalú-Ayé, who both spread and healed sickness, with Catholic saints like Lazarus, who granted wishes for good health.

Already adept at surviving in the shadows and without central leadership, Santería in large part flourished after the crackdown on organized religion in Cuba following Fidel Castro’s 1959 revolution.

Santería’s growth has presented a dilemma to the Catholic Church in Cuba which does not recognize the religion but, faced with often empty pews at services, cannot afford to turn away its followers.

At an outdoor mass held at El Rincón, Catholic priests told Santerîa followers they were welcome at the ceremony but should not ask the priests to bless their beads and idols.

Some priests appeared to pretend to not notice as Santería followers blew cigar smoke onto statues of St. Lazarus, who is represented walking on crutches and wearing a sack cloth.

But the acceptance only goes so far.

Many of the pilgrims voiced concern at Cuba’s worsening economic situation and expressed a wistfulness for the change in policy towards the communist-run government announced by then-President Barack Obama exactly 10 years ago to the day.

Many followers of St. Lazarus saw the announcement on the same day celebrating their deity as fortuitous timing. As the two Cold War-era enemies restored diplomatic ties, Cuba experienced a tourism boom and the island’s beleaguered economic fortunes briefly lifted.

But during his first term, then-President Donald Trump, a critic of what he called Obama’s appeasement of Cuba, reversed much of that opening. Many Cubans say a second Trump term — combined with their own government’s resistance to make meaningful economic reforms — could spell the worst crisis in their lives.

In 2024, Cuba has suffered island-wide rolling blackouts that lasted more than a week, hundreds of thousands of people emigrated from the island and the social safety net once provided by the government all but evaporated.

But as he rested from his pilgrimage, Valdez said he was sure St. Lazarus would once again steer him through the tough times ahead.

“To live, human beings need a reason,” he said. “Something that gives them light and for me it’s my faith. If not, you die.”

This post appeared first on cnn.com

Economy

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

Economy

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Investing

Cardiex Completes Placement Ahead of CONNEQT US Launch

Cardiex Limited (CDX:AU) has announced Cardiex Completes Placement Ahead of CONNEQT US Launch

Download the PDF here.

This post appeared first on investingnews.com

Investing

Top 10 Tin-producing Countries (Updated 2024)

The price of tin rose to a year-to-date high of US$35,575 per metric ton in April on a series of supply and demand factors from the top tin-producing countries.

Despite declining in the second half of the year, prices appear to have found a bottom around the US$28,000 per metric ton level.

Improved semiconductor sales and growing investments in electric vehicles and solar panels are expected to fuel demand. Supply constraints in Myanmar and Indonesia, two major producers, led analysts at BMI Research to revise their 2024 tin price forecast upward to US$30,000 per metric ton.

Tin remains essential for renewable energy generation and electronics, with nearly half of its use in soldering applications critical for semiconductors, mobile phones, and electric cars.

Overall, analysts project a bullish long-term outlook, with tin prices potentially reaching US$45,000 by 2033 as global demand continues to rise.

To give investors a better idea of the tin supply landscape, we’ve put together a list of 2023’s top tin producers by country, based on data from the US Geological Survey.

Read on to learn more about those countries and their contributions to the tin industry.

1. China

Tin production: 68,000 metric tons
Tin reserves: 1.1 million metric tons

China was the world’s top tin-producing country in 2023, with output totaling 68,000 metric tons. It continues its streak as the world’s largest tin-producing country despite a gradual year-on-year decline, down from 2022’s 71,000 MT.

China also holds the largest tin reserves in the world, with more than 1.1 million metric tons.

Currently, China is embroiled in a trade war with the US as political tensions continue to mount. In December 2024, the trade giant China set new US export restrictions on essential minerals, including gallium, germanium and antimony. Analysts speculate that the export curb list will soon include tin, as both countries are determined to cut off each other’s dominance in specific production sectors.

2. Myanmar

Tin production: 54,000 metric tons
Tin reserves: 700,000 metric tons

Myanmar, also known as Burma, produced 54,000 metric tons of tin in 2023, leapfrogging over Indonesia to become the world’s second-largest tin-producing country last year. The Asian country garnered the largest increase in tin production, up significantly from 47,000 MT in 2022.

Myanmar’s self-administered Wa state is home to the majority of the country’s tin output, including the Man Maw tin mine, which is one of the world’s top-producing tin mines.

In April 2023, the Wa state declared that mining operations within its jurisdiction would be suspended starting in August to conserve mineral resources while awaiting an audit of the tin industry and the implementation of new mining regulations.

By August, all activities related to mining, processing and the transport of raw ore had been halted in the state. The Man Maw’s failure to restart operations in August 2023 due to the ban instituted by the Wa militia has impacted industry prices throughout the year. As of September 2024, mining at Man Maw was still suspended, although many smaller tin mines The tin audit has greatly limited tin imports to China and Indonesia, driving prices upward due to lower metal concentrates.

3. Indonesia

Tin production: 52,000 metric tons
Tin reserves: Not available

Indonesia’s tin production came in at 52,000 metric tons in 2023. After coming within touching distance of first place the year before with tin production of 70,000 MT to China’s 71,000 MT, in 2023 Indonesia conceded its runner-up spot to Burma. Contrary to Burma’s production surge, the country recorded the steepest production dip in 2023.

Last year, Indonesia’s Ministry of Energy and Mineral Resources designated tin as a critical mineral, recognizing its supply importance, economic value and role in high-tech applications.

4. Peru

Tin production: 23,000 metric tons
Tin reserves: 130,000 metric tons

Peru also saw its tin output decline last year, when the country’s total tin production was 23,000 metric tons, a drop from 2022’s 28,200 MT. The South American country was the primary supplier of tin to the US last year.

Peru-based miner Minsur operates the San Rafael tin mine in the country. San Rafael is one of the world’s largest tin mines.

5. Democratic Republic of Congo

Tin production: 19,000 metric tons
Tin reserves: 120,000 metric tons

The Democratic Republic of Congo produced 19,000 metric tons of tin in 2023, a slight increase in its production compared to 2022’s 18,600 MT.

Alphamin Resources (TSXV:AFM,OTC Pink:AFMJF) operates the Bisie tin complex, which hosts the world’s two highest-grade tin mines, Mpama North and the recently constructed Mpama South. The company is ramping up production at the operation following an expansion that will raise annual output to 20,000 MT.

6. Brazil

Tin production: 18,000 metric tons
Tin reserves: 420,000 metric tons

Brazil’s tin production totaled 18,000 metric tons in 2023, registering a slight year-over-year increase from 17,000 MT. Since its production uptick in recent years, Brazil remains as a mainstay among the world’s top tin producers.

This year, Peruvian miner Minsur agreed to sell its Brazilian subsidiary Mineração Taboca, which operates the Pitinga tin mine and Pirapora smelter in Brazil, to China Nonferrous Trade (OTC Pink:CNFMF,HKEX:1258) for US$340 million.

Taboca, the largest tin producer in Brazil, contributed over a third of the country’s refined tin production in 2023 and is Brazil’s only fully integrated tin producer. The Pitinga mine in the Amazon holds the world’s largest tin resource by tin content, with reserves of 279,000 MT expected to sustain production for at least 30 years.

6. Bolivia

Tin production: 18,000 metric tons
Tin reserves: 400,000 metric tons

Bolivia makes the list tied with Brazil at 18,000 metric tons of tin production in 2023.

Bolivia’s state-owned Vinto smelter declared force majeure in March 2023 due to coal shortages from Peru, resulting in weekly production losses of up to 200 MT of tin.

Further compounding the issue, Vinto did not receive concentrate from the country’s Huanuni and Calquiri mines for over two months due to US$90 million in outstanding debts, leading to protests by miners in La Paz who wanted the debt cancelled.

8. Australia

Tin production: 9,100 metric tons
Tin reserves: 620,000 metric tons

Australia’s tin output for 2023 remained relatively untouched at 9,100 metric tons, just a slight increase from 2022’s 9,000 MT.

Australian tin producer Metals X (ASX:MLX) has invested AU$4.64 million in First Tin (LSE:1SN) this year, acquiring a 23 percent stake to support tin development projects in Australia and Germany.

Metals X, co-owner of the Renison mine in Tasmania, aims to leverage its operational expertise to accelerate First Tin’s Taronga project in New South Wales, which targets production by 2027 following a strong feasibility study.

9. Nigeria

Tin production: 8,100 metric tons
Tin reserves: Not available

Nigeria follows the trend of incremental production increases year by year, increasing by 15.71 percent or 8,100 MT from 2022’s 7,000 MT mark. Nigeria’s Plateau State, home to the country’s largest tin reserves, has witnessed a resurgence in mining activities as global tin prices rose above US$30,000 per metric ton in 2024, up from US$5,000 in the early 2000s.

Despite this boom, the sector remains largely unregulated, with artisanal and illegal mining dominating production and contributing little to government revenue. Between 2018 and 2022, Nigeria’s solid minerals sector, which includes tin, contributed a mere 0.17 percent to the nation’s GDP, according to the National Bureau of Statistics (NBS).

10. Malaysia

Tin production: 6,100 metric tons
Tin reserves: Not available

Rounding out the list of the world’s top tin-producing countries for 2023 is Malaysia, which produced 6,100 metric tons last year, up from 2022’s 5,000 MT.

Malaysia Smelting (KLSE:MSC), the second top tin-producing company in the world, is poised to benefit from bullish tin forecasts, as the century-old company has posted above-expected margins in the second and third quarter of 2024.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing

AI Market 2024 Year-End Review

Competition in the artificial intelligence (AI) sector escalated dramatically in 2024, with major tech companies investing billions in a race to research and develop advanced AI technologies.

This surge in investment spurred rapid advancements, fierce competition and a wave of innovation that has the potential to reshape the technological landscape moving forward.

Competition heats up among AI heavyweights

As mentioned, major tech companies jumped headfirst into AI in 2024.

For its part, Google (NASDAQ:GOOGL) began the year by rebranding its Bard chatbot as Gemini. The February decision streamlined its AI products under a single brand, showcasing a move toward a more sophisticated and unified AI experience. Its newest interaction, Gemini 2.0, was released on December 11.

Meanwhile, Microsoft (NASDAQ:MSFT) deepened its partnership with OpenAI, investing another US$750 million during an October funding round worth US$6.6 billion. This latest round brought the company behind ChatGPT to a total valuation of US$157 billion. According to SEC filings, Microsoft’s total investment in OpenAI has now reached US$13 billion.

NVIDIA (NASDAQ:NVDA), SoftBank (TSE:9434) and a handful of venture capital firms also participated in the round, but under the stipulation that OpenAI shift control of its dealings to a for-profit arm.

This sparked rumors that a potential initial public offering on the horizon.

Apple (NASDAQ:AAPL), notably missing from the list of investors who participated in OpenAI’s October funding round, has opted for a more independent path, focusing on internal AI development.

At its annual developer conference from June 10 to 14, it unveiled Apple Intelligence for iOS18, saying it was coming to iPhone 16, iPadOS 18 and macOS Sequoia users. However, the company also shared plans to integrate ChatGPT in some products, like its voice-activated assistant Siri, as a supplemental layer on top of Apple Intelligence.

Apple performance, January 1 to December 17, 2024.

Chart via Google Finance.

The company’s share price gained almost 8 percent by the end of the conference.

Apple Intelligence was released for qualifying models on October 28, and the newest software update, including ChatGPT for writing tools and Siri, was released on December 11.

OpenAI itself released GPT-4o on May 13, saying that it was optimized for multimodal tasks like analyzing audio and video. Later in the year, on September 12, the company previewed its first o1 model. OpenAI’s o1 series is designed to spend more time “thinking” before it responds and possesses advanced reasoning skills.

However, shortly after the model was released, The Information reported that o1 showed a slower rate of improvement compared to previous models, exposing potential limitations to continuous advancements in AI capabilities.

Amazon (NASDAQ:AMZN), while less focused on consumer-facing AI products, invested heavily in building out its cloud infrastructure and allocated another US$4 billion to AI research company and OpenAI rival Anthropic on November 22. This brings Amazon’s total investment in Anthropic to US$8 billion. As part of this expanded partnership with Amazon, Anthropic also made Amazon Web Services its primary cloud provider.

Meta (NASDAQ:META) focused on integrating generative AI across its platforms in 2024, leading to enhancements like better ad targeting and content recommendations. The company also released the MTIA v2 chip, an improved version of its AI inference chip that is designed to handle the massive amount of data generated by Meta’s customer base. The newest version of Meta’s open-sourced large language model, Llama 3, was released on April 18.

Elon Musk’s AI company, xAI, upgraded its large language model Grok-2. A beta version of Grok-2 was released on August 13 and was made available to all X users on December 12. Grok-2 was trained on xAI’s supercomputer Colossus, which is powered by 100,000 NVIDIA graphics processing units (GPUs) and came online on September 11. The company held two US$6 billion funding rounds in 2024, and as of November 28 was valued at a staggering US$50 billion.

Hardware is king

Vertical integration gained momentum in 2024 as companies invested in more parts of the chip-making process.

NVIDIA maintained its dominance, attracting attention with outstanding earnings seasons and intermittently earning the title of the world’s most valuable company. The company set the stage for exponential further growth when it introduced its Blackwell architecture at the GPU Technology Conference in March.

However, the company has faced unexpected design hurdles that have delayed the debut of Blackwell GPUs. While no official release date was set, it was widely speculated that they would be available towards the end of 2024. A progress update will reportedly be announced at the Consumer Electronics Show in January.

NVIDIA performance, January 1 to December 17, 2024.

Chart via Google Finance.

Advanced Micro Devices (AMD) (NASDAQ:AMD), NVIDIA’s most direct competitor, reported a 9 percent increase in revenue in Q2, driven by its MI300X AI chip. MI300X combines GPU and central processing unit capabilities into a single chip, giving a leg up over NVIDIA, which designs both chips separately to work together.

Also in 2024, AMD collaborated with a handful of software and hardware companies to develop a new AI accelerator standard that is capable of challenging NVIDIA’s NVLink.

2024 presented chip designers with a challenge as customers like Apple and Google increasingly moved chip design in-house. Made by Taiwan Semiconductor Manufacturing Corporation (TSMC) (NASDAQ:TSM), Apple’s A- and M-series chips feature a neural engine to enable on-device AI and powered a slew of new products released this year.

Google released its Tensor G4 chip, designed in collaboration with Broadcom (NASDAQ:AVGO) and manufactured by TSMC. The G4 chip powers Google’s refreshed lineup of Pixel devices, released on August 13.

The shifting trends resulted in TSMC emerging as an undisputed victor. The company reported outstanding revenue and profits in 2024, fueled by a surge in demand for powerful chips and its advanced manufacturing technologies.

Its share price hit an intraday high of US$211.93 on October 17 following its Q3 results, and it recorded an all-time high closing share price of US$205.19 that same day.

According to a December 9 report by Taipei-based market intelligence provider TrendForce, TSMC increased its share of the wafer foundry market to 65 percent in the third quarter.

TSMC performance, January 1 to December 17, 2024.

Chart via Google Finance.

Another chip company, Broadcom, successfully navigated 2024 by diversifying into software through its acquisition of VMware. Broadcom, which plays a crucial role in the semiconductor industry by designing and manufacturing chips that enable the realization of software objectives, reported record revenue for its 2024 fiscal year,

The rise was driven by strong demand for its semiconductor products and the successful integration of VMware. The company’s AI-related revenue more than tripled, and its quarterly dividend rose by 11 percent.

In contrast, Qualcomm (NASDAQ:QCOM), which remained largely focused on the hardware market this past year, appeared more vulnerable to the industry’s shifting tides.

Even industry giants like Intel (NASDAQ:INTC) faced their share of turbulence. While its foundry business struggled, Intel’s computer parts division did well, with its Core Ultra processors powering a lineup of AI-enabled laptops from Microsoft and Dell (NYSE:DELL). Dell also pushed into hybrid solutions and edge computing with its APEX portfolio.

Broadcom, Qualcomm and Intel performance, January 1 to December 17, 2024.

Chart via Google Finance.

AI hype pays dividends for tech giants

Despite a notable pullback in Q2 and Q3 due in part to investor concerns about the long-term returns of massive AI investments, 2024 was a year of strong financial performances for tech giants, as evidenced by their dividend payouts.

Meta announced cash dividend payments in May and September, while in Microsoft said in September that it would reward shareholders with a 10 percent increase to its quarterly dividend payment.

Alphabet also issued quarterly dividends for the first time in 2024, distributing payments three times.

It’s worth noting that the initial surge in spending and subsequent pullback could have been influenced by a variety of factors, including hype cycles, macroeconomic conditions and evolving understandings of AI’s capabilities and limitations.

Investor takeaway

Ultimately, despite occasional fluctuations and concerns, investor confidence in the tech sector remained strong throughout 2024, with funding continuing to flow. As of mid-December, shares of Microsoft were up over 21 percent year-to-date, while Alphabet was up by over 44 percent and NVIDIA was up an astonishing 166 percent.

In 2024, the AI sector experienced rapid advancements and fierce competition, driven by substantial investments from tech giants. As the technology continues to mature, the stage is set for continued innovation and disruption, promising an exciting future for AI and its applications.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing

4 Platinum Uses for Investors to Know (Updated 2024)

Platinum may be rare, but it is the third most-traded precious metal in the world, behind gold and silver.

The world’s platinum demand varies widely across many sectors. Most notably, platinum metal is used in autocatalysts and jewelry, as well as for medical and industrial purposes. Those interested in investing in platinum would do well to be aware of the many platinum uses. After all, by knowing which industries require platinum, it’s possible to understand supply and demand dynamics, and to be aware of how the precious metal’s price may move in the future.

With that in mind, here’s a list of the four main platinum uses. Scroll on to learn more about platinum’s key applications.

1. Autocatalysts

One of the main platinum uses is in the construction of autocatalysts. An autocatalyst is a “cylinder of circular or elliptical cross section made from ceramic or metal formed into a fine honeycomb and coated with a solution of chemicals and platinum group metals.” An autocatalyst mounted inside a stainless steel canister is known as a catalytic converter.

Catalytic converters are installed in a vehicle’s exhaust lines, between the engine and muffler, where they are used to moderate the dangerous qualities of exhaust. Specifically, the autocatalysts that vehicles contain convert over 90 percent of hydrocarbons and carbon monoxide into carbon dioxide, nitrogen and water vapor. They can also convert pollutants from diesel exhaust into carbon dioxide and water vapor, which is immensely helpful in reducing pollution.

Autocatalysts have been used in the US and Japan since 1974, and are now so common that over 95 percent of new vehicles sold each year have one. As a result, they are a significant source of platinum demand that is not likely to disappear in the future. Indeed, as pollution rules become more stringent, car companies are looking at creating even more efficient autocatalysts.

In 2024, platinum demand from the automotive sector was forecast to hit 3.17 million ounces, according to the World Platinum Investment Council (WPIC). It’s expected to climb to an eight-year high of 3.25 million ounces in 2025.

2. Platinum jewelry

Platinum has many qualities that make it ideal for use in jewelry, and that is the second largest source of platinum demand. The metal is strong, resists tarnish and can repeatedly be heated and cooled without hardening or oxidizing.

When used to make jewelry, platinum is commonly alloyed with other platinum-group metals such as palladium, as well as copper and cobalt, so that it is easier to work with.

The history of platinum jewelry is long. More than 2,000 years ago, Indigenous people in South America made rings and ornaments out of platinum. Egyptians used platinum for decoration as early as the 7th century BCE. Meanwhile, Europeans began to use the metal in jewelry in the 18th century. Currently, China is the largest market for platinum jewelry.

In 2024, platinum demand for jewelry was expected to increase 5 percent year-over-year to 1.95 million ounces, and move up to 1.98 million ounces in 2025.

3. Industrial applications

Platinum’s industrial applications could fill a book all on their own. For instance, platinum catalysts are used to manufacture fertilizer ingredients, and the metal is a key component in silicones, hard disks, electronics, dental restoration, glass-manufacturing equipment and sensors in home safety devices.

Another platinum use is in the construction of hard drives with extremely high storage densities. And, because it is reactive to oxygen, oxides of nitrogen and carbon monoxide, platinum can be used to detect changes in the amount of those materials in vehicles and buildings. For the same reason, platinum is also used in medical sensors, particularly medical instruments that measure blood gases, to detect oxygen.

Industrial demand for platinum, including medical demand, was forecast to come in at 2.43 million ounces in 2024 before falling to 2.22 million in 2025.

4. Medical applications

Platinum is used in electronic medical devices like those mentioned above, as well as in catheters, stents and neuromodulation devices. It is ideal for these applications because of its durability, conductivity and biocompatibility. The metal is also inert within the body, making it safe for implantation.

To meet other medical needs, platinum can be formed into rods, wires, ribbons, sheets and micromachined parts. Further, it helps fight cancer in the drugs cisplatin and carboplatin, which are widely used to treat testicular cancer, as well as ovarian, breast and lung cancer tumors.

Medical demand for platinum has increased in recent years, and is forecast to rise to 303,000 ounces in 2024 and 314,000 ounces in 2025.

FAQs about platinum

How much is platinum worth?

Throughout 2024, the price of platinum has traded between US$900 and US$1,100 per ounce. Although the industry is facing a growing supply deficit, it is also dealing with lagging demand.

The shortfall in supply is related to a hangover from COVID-19 lockdowns, Russia’s war in Ukraine and ongoing electricity shortages and railway issues in the top platinum producing country South Africa. Russia typically ranks as the world’s second largest platinum-producing country. Meanwhile, economic pressures worldwide have weighed on demand for platinum from the automotive industry. However, the same economic challenges have led to less demand for electric vehicles, which don’t require platinum-laden catalytic converters.

Which is more valuable, gold or platinum? Why?

Platinum is 30 times rarer than gold, much harder to mine and in high demand due to its important industrial uses, but the gold price is more than double the price of platinum in 2024. Precious metal gold has long been valued as a form of currency and a store of wealth, yet platinum jewelry often has a higher price point than gold jewelry.

Platinum in general has historically traded on par or at a premium to gold, but since 2015 the two metals have diverged in price, with the gold taking the high road. This split has been attributed to gold’s safe-haven status and platinum’s reliance on the industrial and jewelry markets, which don’t fare well in times of economic uncertainty. This has led to increasing demand for platinum jewelry as a cheaper alternative to gold jewelry.

What’s the best investment, gold or platinum?

Both gold and platinum have wealth-generating potential, but it’s important to determine which precious metals fit your investment strategy; consider looking at supply, demand and prices for each option before making a decision.

To learn more, check out: What is the Best Precious Metal to Invest In?

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing

Silver Price 2024 Year-End Review

The silver price put on a strong performance in 2024, hitting highs not seen in over a decade.

Despite some volatility, factors like increasing industrial demand, safe-haven buying from investors and weakening mining supply all came together during the year to support gains in the price.

All told, silver is up nearly 35 percent since the start of 2024, outperforming gold’s 32 percent gain.

Silver price in Q4

Silver began Q4 on a strong note, reaching US$31.37 per ounce on October 1 and climbing to US$32.18 on October 4; it then slipped to US$30.49 on October 9. However, the white metal’s price didn’t remain low for long. It surged to its year-to-date high of US$34.72 on October 22, also reaching its highest level in 12 years.

The most significant tailwinds for silver came from geopolitical tensions, with what appeared to be a greater likelihood of the Israel-Palestine conflict spilling over into a broader regional war in October. Israel’s attacks on Lebanon, Syria and Iran saw more investors seek the haven of precious metals, benefiting silver.

As November began, the price of silver was again in retreat, trading at US$30.24 by November 15.

Silver faced headwinds following the US presidential election on November 5, losing nearly 5 percent in a single day as some investors fled to interest-bearing assets. However, the metal’s losses were somewhat softened after the US Federal Reserve made a 25 basis point cut to its benchmark rate on November 7.

Silver price, Q4 2024.

Chart via Trading Economics.

As the month worse on, silver saw volatility, spiking to US$31.34 on November 22. The rise came as safe-haven investors flocked to the metal following an escalation in the war between Russia and Ukraine. The US, UK and France said they would allow the use of long-range missiles by Ukraine to attack military targets inside Russia.

Previously, Ukraine had only been allowed to use the missiles to strike targets along the border.

The response from Russia was a policy change that would permit the use of nuclear weapons against countries supported by nuclear powers. Following the move, Russia launched a test of an intermediate-range ballistic missile capable of carrying a nuclear payload on a target within Ukraine.

Silver fell to a quarterly low of US$30.11 on November 27, but since then the precious metal has regained some ground. As of December 11, it was trading at US$31.88.

The next Fed meeting is set to run from December 17 to 18. Most analysts expect the central bank to make one last 25 basis point cut before pausing in 2025.

How did silver perform for the rest of the year?

Silver price in Q1

Silver started the year on a low note as its lackluster performance from 2023 carried over.

However, rate cut expectations added momentum to silver at the end of February and the beginning of March, which pushed the price up from the US$22 range to above US$25.

Krauth also mentioned declining aboveground silver inventories.

“I think there may be 12 to 24 months left before they run out,” he said.

Silver price in Q2

The big news from the second quarter was silver breaking through the US$30 barrier.

The price continued to be fueled by rate cut speculation, but also saw support from industrial segments as demand from India soared. The country imported more silver during the first four months of 2024 than all of 2023.

Industrial segments, particularly photovoltaics production, have been a driver of Indian demand as the country works to build up its domestic solar supply chain through its approved list of models and manufacturers.

Silver price in Q3

Silver didn’t see much upward momentum through most of the third quarter.

Instead, it saw a significant retreat toward US$26. Still, by the end of the quarter, a Fed rate cut had provided a substantial tailwind for silver, sending it above the US$32 mark by the end of September.

The quarter also saw First Majestic Silver (TSX:AG,NYSE:AG) announce on September 5 that it would purchase all of the issued and outstanding shares of Gatos Silver (TSX:GATO,NYSE:GATO) in a US$970 million transaction.

The deal will give First Majestic a 70 percent stake in the Cerro Los Gatos mine in Northern Mexico. The combined entity’s anticipated annual production is 30 million to 32 million silver equivalent ounces.

This was followed on October 4 by Coeur Mining’s (NYSE:CDE) agreement to acquire SilverCrest Metals (TSX:SIL,NYSE:SILV) for US$1.7 billion. The deal will create one of the world’s largest silver producers, with annual output of 21 million ounces of the white metal projected by 2025.

The deal will give Coeur 100 percent ownership of the recently opened Las Chispas mine in Sonora, Mexico, which is projected to sell 9.8 million to 10.2 million silver equivalent ounces this year.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Denmark frees anti-whaling activist Watson, rejecting Japan extradition

Denmark released anti-whaling activist Paul Watson from detention on Tuesday and said it had rejected a Japanese request to extradite him over criminal charges dating back more than a decade.

US-Canadian Watson, 74, founder of the Sea Shepherd conservationist group and the Captain Paul Watson Foundation, was released in Greenland’s capital Nuuk, police in the autonomous Danish territory said.

Watson was apprehended when his ship docked in Greenland in July.

“I’m certainly relieved, especially since it allows me to get home to my children before Christmas,” Paul Watson told Reuters after his release on Tuesday.

“I haven’t seen my children since June. But the support here in Greenland has been incredible,” he said, adding that he had received more than 4,000 letters of support, including around a dozen from supporters in Japan.

Denmark’s justice ministry said it had based its decision on an overall assessment, including the age of the case and in particular an uncertainty over whether time spent in Greenland detention could be deducted from any final sentence in Japan.

“Based on correspondence with the Japanese authorities on this matter, the Ministry of Justice believes that it cannot be assumed with the necessary certainty that this will be the case,” Justice Minister Peter Hummelgaard said in a statement.

Japan had issued an international warrant for Watson’s arrest, seeking him on charges of breaking into a Japanese vessel in the Antarctic Ocean in 2010, obstructing its business and causing injury as well as property damage.

A spokesperson for Japan’s embassy in Copenhagen declined to comment. Japan’s foreign ministry did not immediately respond to a request for comment.

Watson’s lawyer Julie Stage said she was satisfied with the decision.

“We think it has taken a long time, but the most important thing is that it ends with the right decision,” she said.

Watson has had strong support in France, where he has lived with his family since 2023, with a campaign for his release enlisting the support of French President Emmanuel Macron and actress Brigitte Bardot.

Lamya Essemlali, the head of Sea Shepherd France, who has visited Watson in detention in Greenland, said the news had taken her by surprise.

“When I got the news, I mean, I could hardly think, honestly. I just rushed into my clothes and rushed to the prison. I think I still don’t realize really that he’s out,” she said.

This post appeared first on cnn.com