Canada Stocks Stabilize Amid Inflation Data and Energy Price Worries

Canadian stocks finished Monday's session nearly flat, despite some volatility throughout the day. The S&P/TSX Composite index closed at 35,702.53, up just 5.04 points (0.01%) from the previous week.

The market's mixed performance was influenced by inflation data released earlier in the day, which suggested that underlying price pressures remained under control. The Bank of Canada's preferred measures of core inflation were unchanged at 2.0% and 1.9%, respectively.

However, Governor Macklem had warned earlier this month that the ongoing conflict in the Middle East could lead to higher energy prices feeding through the economy. Investors are also anticipating a potential rate hike by the US Federal Reserve on Wednesday.

In terms of individual stock performance, Thomson Reuters Corp (TSX:TRI) led the S&P/TSX Composite with an 8.90% increase, followed closely by Curaleaf Holdings Inc (TSX:CURA) and Descartes Systems Group Inc (TSX:DSG).

Looking ahead to technical analysis, immediate support for the index is positioned near 35,500. A sustained hold above this level could help stabilize the index and preserve its broader bullish technical outlook.