Here are four things you need to know this morning
Software under pressure: Investors are focused today on the risk of more losses in more losses on companies that sell software and data-crunching tools as artificial intelligence revolutionizes corporate use of information. Nasdaq Composite Index futures slipped in pre-market trading after losses in software stocks Tuesday. Thomson Reuters edged down again after sliding 16 per cent Tuesday. Adobe also dropped in the pre-market following a seven per cent decline Tuesday. “If things are advancing as rapidly as we hear from OpenAI and Anthropic, it’s going to be a problem,” Art Hogan, chief market strategist at B. Riley Wealth Management, told the Wall Street Journal.
Wegovy wilts: Shares in Denmark’s Novo Nordisk, maker of the obesity drug Wegovy, crashed 18 per cent. The company warned that “unprecedented” price pressures will lead to a sharp decline in sales and profits this year. U.S. President Donald Trump is pushing aggressively to cut drug costs and competition is getting fiercer in the lucrative weight-loss sector. However, U.S. rival Eli Lilly saw its shares jump eight per cent in the pre-market. The company has streaked ahead in terms of U.S. prescriptions, and it forecast 2026 profit above Wall Street estimates today.
Bullion bounces back: Gold rebounded above US$5,000 an ounce as bargain hunters chased precious metals following a historic collapse from last week’s record highs over $5,500. This year’s run-up in gold and silver has been driven partly by investors piling into leveraged exchange-traded products and a wave of call-options buying. Goldman Sachs said mainland China’s four largest gold-backed exchange-traded funds saw combined outflows of nearly $1 billion on Tuesday.
Suncor beats on cash flow: RBC says Suncor’s fourth-quarter was two per cent above Street consensus on cash flow per share. Production hit a record 909,000 barrels per day, up from 875,000 in the same period in 2024
