08:50 AM EDT, 04/26/2024 (MT Newswires) -- US equity futures were up ahead of Friday's opening bell as traders digested the Federal Reserve's preferred inflation metric.

Dow Jones Industrial Average futures gained 0.3%, S&P 500 futures rose 0.9%, and Nasdaq futures were up 1.1%.

Oil prices were higher, with front-month global benchmarks Brent crude up 0.7% and US West Texas Intermediate crude up 0.8%.

The PCE price index, the Fed's preferred inflation measure, was released at 8:30 am ET. The headline measure rose 0.3%, as expected, in March, while the core measure also matched estimates at a 0.3% gain. Personal income rose 0.5% in line with expectations, while personal spending rose 0.8% versus the 0.6% expected gain, according to estimates compiled by Bloomberg.

The Consumer Sentiment index, due at 10 am ET, is expected to hold unchanged at 77.9 in the final reading for April.

In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended 2.1% higher, and China's Shanghai Composite finished 1.2% higher. Meanwhile, UK's FTSE 100 rose 0.5%, and Germany's DAX index was up 0.9% in Europe's early afternoon session.

In equities, shares of Snap (SNAP) were 25% higher pre-bell after the company reported Q1 adjusted earnings and revenue that topped analysts' estimates. Alphabet (GOOGL) shares increased 11% after posting stronger Q1 financial results. Skechers (SKX) shares advanced 10% on higher Q1 adjusted profit and sales.

On the losing side, Intel ( INTC ) shares fell 8% after the company issued Q2 guidance that trailed analysts' projections. Philips 66 (PSX) shares dropped 4% after posting lower Q1 adjusted profit.