08:10 AM EDT, 10/07/2024 (MT Newswires) -- US equity futures were lower pre-bell Monday as the Q3 earnings season gets underway.

The Dow Jones Industrial Average futures fell 0.4%, S&P 500 futures dropped 0.5% and Nasdaq futures were down 0.6%.

Pepsico ( PEP ) is scheduled to report earnings on Tuesday before banking majors JPMorgan ( JPM ) and Wells Fargo ( WFC ) formally kick off the earnings season on Friday.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $79.39 per barrel and US West Texas Intermediate crude up 1.9% at $75.81 per barrel.

Consumer credit, due for release at 3 pm ET, is expected to drop to $11.8 billion in August from $25.45 billion in the preceding month, according to estimates compiled by Bloomberg.