09:05 AM EDT, 08/13/2025 (MT Newswires) -- US equity futures posted narrow gains ahead of Wednesday's opening bell after Tuesday's consumer inflation report fueled expectations the Federal Reserve will move to cut interest rates at its Federal Open Market Committee meeting next month.

Dow Jones Industrial Average futures were up 0.3%, S&P 500 futures were up 0.3%, and Nasdaq futures were up around 0.4% in recent premarket activity.

Data released Tuesday by the Bureau of Labor Statistics showed the US consumer price index rose 0.2% in July, in line with estimates compiled by Bloomberg.

Oil prices were edged higher, with front-month global benchmark North Sea Brent crude up 0.1% at $66.19 per barrel and US West Texas Intermediate crude up 0.02% at $63.18 per barrel.

The Energy Information Administration's weekly Petroleum Status Report is due for release at 10:30 am ET.

In other world markets, Japan's Nikkei closed 1.3% higher, Hong Kong's Hang Seng ended 2.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.8% higher, France's CAC 40 was up 0.6% and Spain's IBEX 35 was up 1.1% in Europe's early afternoon session.

In equities, Sapiens International ( SPNS ) stock was up 44% after the company agreed to be acquired and taken private by private equity firm Advent in an all-cash deal that values the insurance software solutions provider at about $2.5 billion.

On the losing side, ProFrac ( ACDC ) shares were 37% lower after the company priced a $75 million stock offering. CAVA Group ( CAVA ) stock was down 23% after the company reported late Tuesday fiscal Q2 revenue that trailed analysts' estimates and cut its fiscal 2025 same restaurant sales growth outlook.