09:21 AM EDT, 03/11/2024 (MT Newswires) -- US equity futures were lower Monday as traders looked ahead to the consumer price index due for release later in the week for clues on the direction of the Federal Reserve's future monetary policy.

Dow Jones Industrial Average futures and S&P 500 futures both fell around 0.4%, and Nasdaq futures were down 0.5%.

The consumer price index for February is scheduled for release Tuesday.

Oil prices were cautiously lower, with front-month global benchmark North Sea Brent crude down 0.3% at $81.84 and US West Texas Intermediate crude down 0.4% at $77.70, as traders turned cautious ahead of the inflation data which could influence future demand for crude.