09:11 AM EDT, 03/18/2025 (MT Newswires) -- US equity futures posted narrow losses ahead of Tuesday's opening bell as the Federal Reserve kicks off its two-day Federal Open Market Committee policy setting meeting.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures declined 0.3%, and Nasdaq futures were down 0.5%.

The FOMC meeting will be capped by a rate announcement at 2 pm ET Wednesday.

Oil prices were higher, with front-month global benchmark North Sea Brent crude rose 1% at $71.80 per barrel and US West Texas Intermediate crude rose 1% higher at $68.05 per barrel.

Housing starts, released at 8:30 am ET, rose to a 1.501 million annual rate in February from 1.35 million previously, compared with estimates compiled by Bloomberg for 1.39 million. Meanwhile, permits declined to 1.456 million from January's 1.473 million, against estimates for 1.45 million.

Forecasters see a 0.2% rise in industrial production, due at 9:15 am ET, for February.

In other world markets, Japan's Nikkei closed 1.2% higher, Hong Kong's Hang Seng ended 2.5% higher, and China's Shanghai Composite finished 0.1% higher. Meanwhile, UK's FTSE 100 gained 0.5%, Germany's DAX index rose 1.3%, France's CAC 40 rose 0.7% and Spain's IBEX 35 rose 1.1% in Europe's early afternoon session.

In equities, shares of Harrow (HROW) increased nearly 23% after the company reported late Monday preliminary Q4 revenue that topped analysts' estimates.

On the losing side, Bakkt Holdings ( BKKT/WS ) shares retreated 33% after the company said late Monday that it received a notice from Bank of America ( BAC ) saying it would not renew a commercial deal with the company.