08:01 AM EST, 01/31/2025 (MT Newswires) -- US equity futures were higher pre-bell Friday ahead of the release of key inflation data.

The Dow Jones Industrial Average futures gained 0.3%, S&P 500 futures rose 0.5%, and Nasdaq futures were up 0.8%.

Oil prices were lower, with front-month global benchmark down 0.1% at $75.79 per barrel and US West Texas Intermediate crude down 0.1% at $72.63 per barrel.

The Personal Consumption Expenditures price index, scheduled for release at 8:30 am ET, is seen coming in at 0.3% growth for December. The core measure, which is the Federal Reserve's preferred measure of inflation, is seen up 0.2%. Employment costs are expected to be up 0.9% on the quarter in Q4, according to estimates compiled by Bloomberg.

Forecasters see the Chicago Purchasing Managers Index, due at 9:45 am ET, coming in at 40.3 in January versus 36.9 previously.