July 29 (Reuters) - Futures linked to Canada's main stock index kicked off the week on a positive note as gold prices gained, while investors awaited domestic GDP data and U.S. big tech earnings for more clues on the health of their economies and markets.
September futures on the S&P/TSX index were up 0.3% at 6:20 a.m. ET (1020 GMT).
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), ended higher last week as investors cheered U.S. inflation data that could clinch the start of Federal Reserve's interest-rate cuts in the coming months.
Energy shares could see an impact as oil prices , swung between gains and losses on fears of a widening conflict in the Middle East folowing a rocket strike in the Israeli-occupied Golan Heights, which Israel and the U.S. blamed on Lebanese armed group Hezbollah.
The materials sector could climb as gold and silver prices firmed on heightened geopolitical tensions in the Middle East and expectations of a U.S. rate cut in September, while copper prices slid on China demand concerns.
All eyes will be on the U.S. central bank this week that will deliver its interest rate decision on Wednesday, while Canada will release its GDP figures for May.
On Friday, the focus will shift to the monthly jobs report from the world's largest economy.
Wall Street futures rose, boosted by inclines in megacap stocks as hopes of a rate cut gained momentum amid earnings updates from big technology firms Apple (AAPL.O), Microsoft (MSFT.O), Amazon.com (AMZN.O), and Meta Platforms (META.O), later in the week.
Meanwhile, progress has been made suppressing fires in the Canadian tourist town of Jasper, with the remaining ones expected to be put out by the end of the day, authorities said on Saturday.
Reporting by Shubham Batra in Bengaluru; Editing by Shreya Biswas
