08:57 AM EDT, 03/15/2024 (MT Newswires) -- US equity futures were flat before Friday's opening bell as traders turned cautious ahead of next week's Federal Reserve meeting.

Dow Jones Industrial Average futures increased 0.2%, S&P 500 futures gained 0.06%, and Nasdaq futures slipped 0.1%.

Oil prices were lower, with both front-month global benchmark North Sea Brent crude and US West Texas Intermediate crude down 0.5%, but were still on track for a weekly gain on the back of a decline in US crude stockpiles and expectations of a supply deficit for 2024 by the International Energy Agency.

The policy-setting Federal Open Market Committee is scheduled to convene for a two-day meeting next week, starting on Tuesday.

The Empire State Manufacturing index, released at 8:30 am ET, dropped to minus 20.9 in March from February's minus 2.4 versus estimates for a smaller decrease to minus 7. Import prices rose 0.3% as expected in February, while export prices rose 0.8%, ahead of expectations for a 0.4% gain.

US industrial production, due at 9:15 am ET, is expected to come in unchanged in February.

Consumer sentiment, slated for 10 am ET, is expected to rise to 77.1 in March versus 76.9 in previously.

In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended 1.4% lower, and China's Shanghai Composite finished 0.5% higher. Meanwhile, UK's FTSE 100 gained 0.2%, and Germany's DAX index rose 0.5% in Europe's early afternoon session.

In equities, shares of Adobe (ADBE) were 11% lower pre-bell after the company issued fiscal Q2 revenue guidance that trailed analysts' projections. Kopin Corporation ( KOPN ) shares fell more than 13% after reporting lower Q4 revenue.

On the winning side, Madrigal Pharmaceuticals ( MDGL ) shares rose 22% after the company secured a US Food and Drug Administration's accelerated approval for its liver fibrosis therapy. Geron ( GERN ) shares soared 77%, a day after the company said it secured a favorable vote from the US Food and Drug Administration's Oncologic Drugs Advisory Committee for its blood disorder drug.