08:54 AM EDT, 05/28/2024 (MT Newswires) -- US equity futures were flat ahead of Tuesday's opening bell as traders returned from a long holiday weekend while looking ahead to a key inflation metric scheduled for release later in the week.

Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures gained 0.1%, and Nasdaq futures increased 0.2%.

Friday's report on personal income and outlays includes the personal consumption expenditure core price index, which is the Federal Reserve's preferred gauge of inflation.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% and US West Texas Intermediate crude up 1.9%.

The Case-Shiller Home Price index, scheduled for release at 9 am ET, is seen rising at a 7.3% annualized rate in March, according to estimates compiled by Bloomberg.

The Consumer Confidence index, due at 10 am ET, is expected at 96.0 for May versus April's 97.0 level.

In other world markets, Japan's Nikkei closed 0.1% lower, Hong Kong's Hang Seng ended 0.03% lower, and China's Shanghai Composite finished 0.5% lower. Meanwhile, UK's FTSE 100 fell 0.4%, and Germany's DAX index slipped 0.2% in Europe's early afternoon session.

In equities, shares of Insmed ( INSM ) soared more than 130% pre-bell after the company said its experimental drug for bronchiectasis lung disease met its primary endpoint in a late-stage study. Calliditas Therapeutics ( CALT ) shares surged 75% after the company's board urged its shareholders to accept a proposed $1.06 billion takeover by Asahi Kasei.

On the losing side, Atlantica Sustainable Infrastructure ( AY ) shares were down 5% after the company said it agreed to a takeover offer from Energy Capital Partners.