08:57 AM EDT, 05/08/2024 (MT Newswires) -- US equity futures turned lower ahead of Wednesday's opening bell as traders search for fresh clues on the direction of future monetary policy.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures declined 0.4%, and Nasdaq futures were down 0.5%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude and US West Texas Intermediate both down more than 1%, on signs of rising supply in the US. Data from the industry group American Petroleum Institute showed a 0.5 million-barrel weekly increase in US crude stockpiles, according to media reports.

Wholesale inventories, due at 10 am ET, are seen dropping 0.4% in the second estimate for March, according to estimates compiled by Bloomberg.

Investors will be monitoring comments from Federal Reserve Vice Chair Philip Jefferson, Boston Fed President Susan Collins and Governor Lisa Cook.

In other world markets, Japan's Nikkei closed 1.6% lower, Hong Kong's Hang Seng finished 0.9% lower, and China's Shanghai Composite ended 0.6% lower. Meanwhile, UK's FTSE 100 increased 0.3%, and Germany's DAX index was up 0.3% in Europe's early afternoon session.

In equities, shares of Dutch Bros ( BROS ). (BROS) were 8% higher pre-bell after the company reported higher Q1 adjusted earnings and revenue and lifted its 2024 revenue guidance. Kyndryl ( KD ) shares rose 5% after posting a narrower fiscal Q4 loss.

On the losing side, DoubleVerify Holdings ( DV ) shares retreated 39% after the company posted lower Q1 profit and issued a revenue outlook that trailed analysts' estimates. ZoomInfo Technologies ( ZI ) shares fell 23% after the company issued Q2 guidance that trailed analysts' projections.