Futures edge higher on upbeat earnings; GDP data in focus

Canadian stock index futures inched up on Friday after upbeat corporate earnings improved risk sentiment, but investors were bracing for domestic GDP data for May later in the morning. September futures tied to the resource-heavy S&P/TSX Composite (index .GSPTSE) were up 0.1% at 7:00 a.m. ET, putting the benchmark on track for a fourth straight monthly gain. Magna International lifted its annual profit outlook after a second-quarter beat, while TMX Group and Pembina Pipeline reported higher second-quarter net income. Market focus then shifted to May GDP expected at 8:30 a.m. ET. Gold fell more than 1% as the dollar strengthened, while oil steadied and headed for a monthly rise.