09:05 AM EDT, 06/25/2025 (MT Newswires) -- US equity futures were higher pre-bell Wednesday, ahead of the second day of Federal Reserve Chair Jerome Powell's semi-annual monetary policy testimony before the US Congress, as the fragile peace process for the Middle East remained in the backdrop.

Dow Jones Industrial Average futures were slightly higher, S&P 500 futures were up 0.2%, and Nasdaq futures added 0.4%.

Powell will return to Capitol Hill at 10 am ET for day 2 of his testimony, this time speaking before the Senate Banking, Housing and Urban Affairs Committee.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $66.65 per barrel and US West Texas Intermediate crude up 1% at $65.04 per barrel.

The May new home sales report, scheduled for release at 10 am ET, is expected to show the number of newly constructed home sales fell to a 694,000 annual rate in May from 743,000 previously, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 1.2% higher, and China's Shanghai Composite finished 1% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was down 0.5% in Europe's early afternoon session.

In equities, QuantumScape ( QS ) stock was up 41% after the battery developer said late Tuesday it has integrated its Cobra separator technology in battery production. Precision BioSciences ( DTIL ) shares were 16% higher after the company said its potential Duchenne muscular dystrophy treatment has secured the US Food and Drug Administration's rare pediatric disease designation.

On the losing side, Torrid (CURV) shares were 32% lower after the company said late Tuesday it priced a secondary stock offering at $3.50 per share. Allot (ALLT) shares were down 14%, a day after the company priced an offering of 5 million shares at $8 apiece for gross proceeds of $40 million.