07:55 AM EDT, 04/12/2024 (MT Newswires) -- US equity futures were lower Friday as major banks kicked off the Q1 earnings season.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures fell 0.3%, and Nasdaq futures were down 0.5%.

JPMorgan Chase ( JPM ) , and Wells Fargo ( WFC ) released quarterly earnings earlier in the morning. Citigroup ( C ) is also scheduled to report before the opening bell.

Oil prices were higher, with front-month global benchmark North Sea Brent crude and US West Texas Intermediate crude both up more than 1%, on potential supply disruptions amid heightened geopolitical tensions in the Middle East.

Import and export prices, scheduled for release at 8:30 am ET, are both seen rising 0.3% in March, according to estimates compiled by Bloomberg.

The University of Michigan Consumer Sentiment Index, due at 10 am ET, is seen coming at 79.0 in the preliminary reading for April versus 79.4 in March.