08:49 AM EDT, 06/05/2024 (MT Newswires) -- US equity futures were cautiously higher ahead of Wednesday's opening bell as traders digested private payrolls data.

Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures increased 0.2%, and Nasdaq futures were up 0.4%.

Oil prices were higher, with front-month global benchmark Brent up 0.5% at $77.91 per barrel and US West Texas Intermediate crude up 0.5% at $73.63 per barrel, stabilizing after losses fueled by a decision by major producers to start rolling back voluntary production cuts.

Private payrolls based on ADP Institute's employment report, released at 8:15 am ET, increased by 152,000 versus estimates compiled by Bloomberg for a 175,000 gain.

The Institute for Supply Management's services index, due at 10 am ET, is expected to come in at 51 in May versus 49.4 in the preceding month, according to analysts' estimates compiled by Investing.com.

In other world markets, Japan's Nikkei closed 0.9% lower, Hong Kong's Hang Seng ended down 0.1%, and China's Shanghai Composite fell 0.8%. Meanwhile, UK's FTSE 100 gained 0.4%, and Germany's DAX index rose 1% in Europe's early afternoon session.

In equities, shares of Hewlett Packard Enterprise ( HPE ) jumped 16% pre-bell after the company posted fiscal Q2 results that topped analysts' estimates and raised its fiscal 2024 guidance. WalkMe ( WKME ) shares surged 42% on a $1.5 billion takeover offer from SAP (SAP).

On the losing side, Fortuna Silver Mines ( FSM ) shares fell 9% after the company unveiled a $150 million notes offering.