July 31 (Reuters) - Futures tied to Canada's main stock index edged higher on Thursday, helped by upbeat earnings from tech giants Meta and Microsoft, while investors were cautious about a potential trade deal ahead of President Donald Trump's August 1 tariff deadline.

Futures on the S&P/TSX index were up 0.07% at 1,628.80 points by 06:38 a.m. ET (1038 GMT). The benchmark index posted its biggest decline in ten weeks on Wednesday.

Sign up here.

Shares of AI heavyweights Meta Platforms (META.O) , opens new tab and Microsoft (MSFT.O) , opens new tab surged in U.S. premarket hours after the companies reported blowout quarterly results on Wednesday, boosting investor confidence in tech and AI investments.

Meanwhile, Trump intensified his trade war with Canada a day ahead of his tariff deadline, saying it would be "very hard" to make a deal with Canada after it gave its support to Palestinian statehood.

If no agreement is reached by the deadline, Trump is set to impose a 35% tariff on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement.

In commodities, oil prices edged lower and U.S. copper prices plunged to their biggest one-day decline on record on Thursday, while gold prices rose more than 1%.

In corporate news, Canadian oil and gas producer Cenovus Energy (CVE.TO) , opens new tab posted a fall in second-quarter profit.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report CA/

Reuters global stocks poll for Canada ,

Canadian markets directory

https://www.reuters.com/markets/europe/tsx-futures-rise-meta-microsoft-results-lift-sentiment-trade-deadline-looms-2025-07-31/