08:16 AM EDT, 08/13/2025 (MT Newswires) -- US equity futures were cautiously higher pre-bell Wednesday after Tuesday's consumer inflation report fueled expectations that the Federal Reserve will cut interest rates next month.

Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.

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 lower, with front-month global benchmark North Sea Brent crude down 0.3% at $65.91 per barrel and US West Texas Intermediate crude down 0.5% at $62.81 per barrel.

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