Canadian stocks moved mostly higher during trading on Friday

Index Update:  The S&P/TSX Composite Index moved to the upside early in the session and remained firmly positive throughout the day before closing up 166.79 points or 0.55 percent at 30,353.07.

Macro Update:  Data from the Labor Department showed the U.S. consumer price index rose by 0.3% in September after climbing by 0.4% in August. Economists had expected consumer prices to rise by another 0.4%. The report also said the annual rate of growth by consumer prices ticked up to 3% in September from 2.9% in August, although that was slower than the 3.1% jump expected by economists.

Top Movers:  Bitfarms is up nearly 10%. Dye & Durham, Coveo Solutions and Celestica Inc are up 5.7 to 6.3%.

Our Stance:  At present, the index is consolidating near a key support zone around 30,200. Holding above this level will be crucial for maintaining investor sentiment and preserving the broader uptrend. Conversely, a decisive breach below 30,200 could indicate short-term fatigue in bullish momentum, potentially triggering a pullback toward immediate support levels at 30,000 and 29,800.

Commodity Update:  The U.S. dollar strengthened to a two-week high against the yen on Monday amid a busy week of trade talks and central bank meetings. Gold slipped 1.27% to USD 4,084.30 per ounce, while silver eased 0.88% to USD 48.16. Copper rose 1.06% to USD 11,016.00, and Brent crude gained 0.70% to USD 66.40 after U.S.-China officials outlined a trade-deal framework, easing global growth concerns.

Technical Update:

On Friday, the S&P/TSX Composite Index advanced 166.79 points (+0.55%) to close at 30,353.07, supported by strong trading volumes that highlighted investor confidence and reinforced the prevailing bullish momentum. Technically, the index maintains a constructive structure, trading comfortably above its 21-period Simple Moving Average (SMA), which continues to provide dynamic support. Momentum indicators further affirm underlying strength, with the Relative Strength Index (RSI) positioned at 57.08, signaling sustained buying interest. At present, the index is consolidating near a key support zone around 30,200. Holding above this level will be crucial for maintaining investor sentiment and preserving the broader uptrend. Conversely, a decisive breach below 30,200 could indicate short-term fatigue in bullish momentum, potentially triggering a pullback toward immediate support levels at 30,000 and 29,800.