1. Canadian Inflation Heats Up Again
Canadian inflation came in hotter than expected. Stats Canada said the Consumer Price Index (CPI) increased 2.4% year-over-year in September, up from 1.9% in August.
But that’s just the headline number…
If you look underneath, it’s a number you don’t want to see at this stage of the cycle — especially with so much uncertainty in the economy.
Too early to call it, but Canada is showing more signs of stagflation. Scary stuff.
2. S&P 500 Stuck in a Tight Range
Looking at the S&P 500, since that wild move on October 10th, it hasn’t been able to break above or below that trading range. Something to watch closely — maybe today’s the day?
Once again, the 50-day moving average proved to be solid support.
Earnings season continues, so know what you own — your stock-specific risk is higher than usual.
Keep in mind: big names report this week and next. Given their heavy index weights, a surprise or disappointment could easily move the market.
3. Gold’s Wild Ride — Signs of Indecision?
I consider any move over $75–$100 (up or down, calculated as close minus open) in gold as significant. Why? Because such large swings are rare and often signal a sentiment shift — typically followed by move in that direction.
If you’ve been watching gold, the past few days have been wild.
We saw significant days on Thursday, Friday, and yesterday, and today is shaping up to be another. Friday and today are both negative.
What does this say? There’s a big fight happening here. These swings show indecisiveness, which can sometimes lead to panic — often for the wrong reasons.
4. The Commodity Complex Is on Fire
The commodities world is buzzing — and not just in gold and silver.
- Oil: Finding support at current levels, but a move below $55 could bring pain. Interestingly, energy stocks are trading as if oil is still at $70.
- Copper: Hovering around $5.00, driven by U.S.-China trade noise — and don’t forget, a major mine still isn’t back in production.
- Rare Earths: Some insanity unfolding in that corner of the market.
- Uranium: Seems like its thunder’s been stolen by rare earths lately.
5. Bitcoin Holds the Line — But for How Long?
Bitcoin is holding steady at its 200-day moving average for now. Historically, a move or close below that level tends to lead to a ~10% decline — something to keep on your radar.
Meanwhile, the U.S. dollar continues to hold strong, even as yields slide. Tell me there isn’t a flight to safety without telling me there’s a flight to safety.
JPMorgan is suggesting 10% exposure to alternatives to boost diversification (Axios).
Canadian Housing Minister Gregor Robertson said, “the average price of housing — not necessarily individual home values — must fall to restore affordability in Canada.” Someone, please explain how you can lower the average without lowering individual prices.
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