Here are five things you need to know this morning
World leaders push back on Carney’s view: Prime Minister Mark Carney’s speech earlier this week received a standing ovation from the VIPs at the World Economic Forum in Davos Switzerland. Now some global economic leaders are pushing back against his view of a disintegrating world. European Central Bank President Christine Lagarde says she’s “not exactly on the same page” as Carney. “From an economic and from a business point of view, we depend on each other,” Lagarde told the final panel of the World Economic Forum. “We have these very strong links and binds. Suppliers sometimes are in a position of strength. If I look at supply and demand, we have also a position of strength, and I think that all directions have to be explored.” Meanwhile, Ngozi Okonjo-Iweala, director general of the World Trade Organization, ,” was also keen to emphasize the positives. “What is happening is that in spite of all the disruptions, there is some resiliency built into the system,” she said. “Trade has suffered the biggest disruption in 80 years, global trade, there is absolutely no doubt about that. Global trade rules have been undermined. But I think the system has been put together in such a way that is quite strong and it will take a lot to destroy.”
Mixed retail signals: We have some mixed signals today when it comes to Canada’s retail sector. Retail sales rose by a stronger-than-expected 1.3 per cent in November, driven by increases at food and beverage retailers. On the other hand, StatCan’s ‘flash estimate’ for December showed a 0.5 per cent drop. Retail sales are set to grow 0.2 per cent in the fourth quarter of 2025, assuming the agency’s flash estimate is correct. While faster than the 0.1 per cent gain in the third quarter, it’s still a significant deceleration compared to the start of 2025.
Intel struggles to meet demand: Shares of Intel traded down by more than 10 per cent in the pre‑market, as the company struggles to keep up with surging demand from AI data centres. Intel also issued profit and revenue forecasts for its current quarter that were below expectations. The chipmaker cites manufacturing problems and supply‑chain constraints. The decline follows a strong 2025, when Intel’s stock rose nearly 50 per cent, boosted by major investments from Softbank, Nvidia and the U.S. government.
Best week for gold in six years: Gold is heading for its best week in six years, with the rally driven by geopolitical risks and renewed threats to the U.S. Federal Reserve’s independence. Bullion steadied after surging to a record above US$4,967 an ounce on Friday and was on track for a weekly gain of more than seven per cent, its strongest performance since March 2020. Silver climbed to an all-time high just below US$100 an ounce, while platinum also hit a record. Precious metal stocks have been the top performers on the TSX this year – but is it too late for investors to jump on the bandwagon? We will discuss with Kenneth Hoffmanof Red Cloud Securities today on BNN Bloomberg at 11:40 am eastern time.
Risky Lulu leggings: The embarrassment continues for Lululemon. The Vancouver-based company’s “Get Low” leggings, derided for being see-through, are available for sale again online. Shoppers just have to make sure to read the disclaimers first. Potential buyers in the U.S. and Canada are now advised to size up, and pair the leggings with skin-tone, seamless underwear. Sales of the product on Lululemon’s North America sites were temporarily halted last week amid complaints that the fabric was sheer and the leggings weren’t “squat-proof.” The drama over the leggings also sparked a lashing from founder Chip Wilson, who called the fiasco a “total operational failure” that he blamed on the company’s board. The attention adds to growing pressure for Lululemon, which is facing slowing growth and a stock that has lost nearly half its value over the past 12 months. The company is also in the middle of two battles with activist shareholders.
