08:22 AM EDT, 04/16/2024 (MT Newswires) -- US equity futures were higher Tuesday as traders monitored the ongoing conflict in the Middle East, while awaiting comments from Federal Reserve Chair Jerome Powell.

Dow Jones Industrial Average futures rose 0.6%, S&P 500 futures increased 0.2%, and Nasdaq futures were up 0.1%.

Oil prices fell, with front-month global benchmark North Sea Brent crude down 0.5% and US West Texas Intermediate crude down 0.6%.

US housing starts, scheduled for release at 8:30 am ET, are seen dropping to a 1.48 million annual rate in March from 1.521 million in February, while permits are seen declining to 1.514 million from 1.524 million previously, according to estimates compiled by Bloomberg.

Industrial production, due at 9:15 am ET, is expected to rise 0.4% in March to add to February's 0.1% gain.

Powell is scheduled to speak at 1:15 pm ET before the Washington Forum on the Canadian Economy.