08:04 AM EDT, 07/08/2024 (MT Newswires) -- US equity futures were little changed Monday as traders stayed on the sidelines ahead of Federal Reserve Chair Jerome Powell's congressional testimony and inflation data later in the week.

Dow Jones Industrial Average futures gained 0.1%, while S&P 500 futures and Nasdaq futures were flat.

Powell will kick off his two-day semiannual monetary policy testimony on Tuesday.

The consumer price index is scheduled for release on Thursday.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.6% at $86 per barrel and US West Texas Intermediate crude down 0.8% at $82.50 per barrel, amid expectations for a ceasefire in Gaza.

Consumer credit, due at 3 pm ET, is expected to increase by $10.7 billion in May versus April's $6.4 billion increase, according to estimates compiled by Bloomberg.