08:21 AM EST, 12/16/2024 (MT Newswires) -- US equity futures were modestly higher pre-bell Monday as traders looked ahead to a data-heavy week.

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

This week's economic releases include the Federal Reserve's interest rate decision Wednesday. Other key releases include data on retail sales, jobless claims, housing starts, gross domestic product growth, and the Personal Consumption Expenditures Price Index, which is the Federal Reserve's preferred measure of US inflation.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $73.98 per barrel and US West Texas Intermediate crude 1.4% lower at $70.31 per barrel.

The Empire State Manufacturing Index, scheduled for release at 8:30 am ET, is expected to drop to 6.4 in December from 31.2 in November, according to estimates compiled by Bloomberg.

The services purchasing managers' index, slated for 9:45 am ET, is expected to come in at 55.7 in the December flash versus 54.9 in November.