09:01 AM EDT, 04/29/2024 (MT Newswires) -- US equity futures were cautiously higher before Monday's opening bell, stabilizing after last week's rally fueled by upbeat earnings from the technology sector.

Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures increased 0.2%, and Nasdaq futures were 0.4% higher.

Shares of software company Microsoft ( MSFT ) and Google ( GOOG ) parent Alphabet (GOOG, GOOGL) surged on Friday after the companies reported strong quarterly results.

Oil prices were little changed, with front-month global benchmarks North Sea Brent crude down 0.8% and US West Texas Intermediate crude 0.9% lower, as traders awaited developments surrounding the ceasefire talks between Hamas and Israel.

The Dallas Fed's general activity index for April is due for release at 10:30 am ET. The index came in at negative 14.4 in the preceding month.

In other world markets, Hong Kong's Hang Seng closed 0.5% higher, China's Shanghai Composite finished 0.8% higher, while the Japanese market was closed for a holiday. UK's FTSE 100 was up 0.3% and Germany's DAX index was marginally lower in Europe's early afternoon session.

In equities, Philips (PHG) shares were up more than 36% pre-bell after the company reached a $1.10 billion settlement related to personal injury litigation in the US in addition to posting higher Q1 adjusted earnings. Tesla (TSLA) stock was over 13% higher following media reports that the electric vehicle manufacturer reached a deal with Baidu ( BIDU ) to allow it to deploy its automated driving system in China.

On the losing side, Addex Therapeutics ( ADXN ) shares were down 52% premarket Monday after the company said its phase 2 epilepsy trial failed to achieve statistical significance for the primary endpoint.