09:03 AM EDT, 05/30/2025 (MT Newswires) -- US equity futures were cautiously lower before Friday's opening bell as traders digested the Federal Reserve's preferred inflation metric.

Dow Jones Industrial Average futures were down 0.3%, S&P 500 futures were 0.3% lower, and Nasdaq futures were down 0.3%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.2% at $62.62 per barrel and US West Texas Intermediate crude 1% lower at $60.30 per barrel.

The personal consumption expenditure price index, released at 8:30 am ET, showed a 0.1% uptick for April following a flat reading in the preceding month, in line with estimates compiled by Bloomberg. The core measure, the Fed's preferred inflation gauge, showed a 0.1% increase for the month to match the prior month's gain, also in line with estimates.

The international trade in goods bulletin, also released at 8:30 am ET, showed the goods deficit narrowed to $87.62 billion for April from $162.25 billion previously, compared with estimates for a $143 billion gap.

The consumer sentiment index, due at 10 am ET, is expected to remain unchanged from the first estimate of 50.8 for May.

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

In equities, Gap (GAP) stock was down 15% pre-bell after the company flagged late Thursday potential incremental costs of about $250 million to $300 million due to tariffs, potentially leading to a $100 million to $150 million net impact to its fiscal 2025 operating income.

On the winning side, Red Robin Gourmet Burgers ( RRGB ) shares were 37% higher after the company reported late Thursday it swung to fiscal Q1 adjusted earnings amid higher revenue.