Canada Stocks: Futures edge higher on upbeat earnings; GDP data in focus

Magna International

31/07/2026 12:33

July 31 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Friday as upbeat corporate earnings supported sentiment, while investors awaited domestic GDP data for May, due later in the day. 
September futures tracking the resource-heavy S&P/TSX Composite index SXFc1 were up 0.1% at 7:00 a.m. ET. The index .GSPTSE is on track to post its fourth straight monthly gain.
Here are more details:
Canadian auto parts supplier Magna International MG.TO raised its annual profit forecast following a second-quarter earnings beat.
TMX Group X.TO and Pembina Pipeline PPL.TO both posted a rise in second-quarter net income late on Thursday.
Market participants are awaiting GDP data for May, which is expected to be released at 8:30 a.m. ET.
Meanwhile, gold dropped more than 1% as the U.S. dollar strengthened, but remained on course for its first monthly gain since February as investors pared back interest rate hike bets after the Federal Reserve meeting this week.
Spot gold XAU= shed 1.1%, while silver XAG= slipped 1.7%. GOL/
Oil prices were steady and on course for a monthly rise as traders assessed supply flows through key maritime chokepoints and developments in U.S.-Iran talks.O/R
Separately, retailer Alimentation Couche-Tard ATD.TO said on Friday it plans to buy Poland's Zabka ZAB.WA for about $8.7 billion. The deal is expected to close by December 2026.

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 (Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Diti Pujara)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))