07:58 AM EST, 12/04/2024 (MT Newswires) -- US equity futures were higher pre-bell Wednesday as traders looked ahead to comments from Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average futures rose 0.4%, S&P 500 futures increased 0.3% and Nasdaq futures were up 0.6%.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $73.88 per barrel and US West Texas Intermediate crude up 0.3% at $70.12 per barrel.

Private payrolls based on ADP Institute's employment report, due at 8:15 am ET, are expected to increase by 166,000 in November versus October's 233,000 rise, according to estimates compiled by Bloomberg.

Factory orders, slated for 10 am ET, are seen up 0.3% in October after dropping 0.5% in September. Forecasters see the Institute for Supply Management's Services Index coming in at 55.5 in November versus 56.0 previously.

Powell is scheduled to speak before the New York Times DealBook Summit at 1:45 pm ET. Investors will parse his address for clues on the central bank's plan for interest rates.