09:00 AM EDT, 07/31/2025 (MT Newswires) -- US equity futures were up ahead of Thursday's opening bell as traders digested a key inflation report for fresh insights into the impact of tariffs on the economy.

Dow Jones Industrial Average futures were up 0.2%, S&P 500 futures were 0.9% higher, and Nasdaq futures were up 1.3%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.8% at $71.90 per barrel and US West Texas Intermediate crude 0.6% lower at $69.55 per barrel.

The personal consumption expenditures price index, released at 8:30 am ET, showed a 0.3% increase for June, in line with estimates compiled by Bloomberg. Meanwhile, the core measure, the Federal Reserve's preferred inflation metric, was also up 0.3% for the month, in line with expectations.

The jobless claims bulletin, also released at 8:30 am ET, showed new unemployment claims increased to 218,000 in the week ended July 26 from 217,000 in the preceding week, compared with estimates for a larger rise to 224,000. The employment cost index showed 0.9% gain in Q2 to match the previous quarter's increase versus estimates for a smaller 0.8% gain.

In other world markets, Japan's Nikkei closed 1% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 1.2% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.

In equities, shares of Mastercard ( MA ) were 1% higher after the company reported higher Q2 adjusted earnings and revenue. AbbVie ( ABBV ) stock was up 4% after the company posted stronger Q2 financial results and raised its 2025 adjusted earnings guidance.

On the losing side, Builders FirstSource ( BLDR ) shares were 8% lower after the company reported lower Q2 earnings and sales.