08:22 AM EDT, 08/30/2024 (MT Newswires) -- US equity futures were higher Friday premarket as traders braced for the Federal Reserve's preferred measure of inflation.

The Dow Jones Industrial Average futures increased 0.2%, S&P 500 futures rose 0.5%, and Nasdaq futures were up 0.8%.

Oil prices were little changed, with front-month global benchmark North Sea Brent crude hovering near the flatline at $78.81 per barrel and US West Texas Intermediate crude down 0.1% at $75.81 per barrel.

Personal income, scheduled for release at 8:30 am ET, is seen rising 0.2% in July to match June's increase. The core personal consumption expenditures price index, the Fed's preferred inflation metric, is seen increasing 0.2% to match the previous month's uptick.

The Chicago Purchasing Managers' Index, due at 9:45 am ET, is expected to drop to 45.0 in August from July's 45.3.

No change is expected for Consumer sentiment, slated for 10 am ET, from the mid-month flash at 67.8 in the final reading for August.