08:00 AM EDT, 08/15/2024 (MT Newswires) -- US equity futures were cautiously higher Thursday as traders awaited a deluge of economic data.

Dow Jones Industrial Average futures gained 0.3%, S&P 500 futures increased 0.2%, and Nasdaq futures were up 0.3%.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $80.56 per barrel and US West Texas Intermediate crude up 1.1% at $77.86 per barrel.

New jobless claims, scheduled for release at 8:30 am ET, are seen increasing to 236,000 in the week ended Aug. 10 from 233,000 the prior week. Retail sales are expected to rise 0.4% for July following a no change in June. The Empire State Manufacturing index is expected to come in at minus 5.9 for August following July's minus 6.6. Import prices are seen dropping 0.1% in July, while no change is expected for export prices, according to estimates compiled by Bloomberg.

Industrial production, slated for 9:15 am ET, is expected to fall 0.3% for July following a 0.6% increase in June.

Business inventories, due at 10 am ET, are expected to rise 0.3% in June. Forecasters see the US housing market index coming in at a 43 level for August against 42 in the preceding month.