08:53 AM EDT, 07/26/2024 (MT Newswires) -- US equity futures posted gains ahead of Friday's opening bell as traders digested the Federal Reserve's preferred inflation gauge.

The Dow Jones Industrial Average futures gained 0.6%, S&P 500 futures increased 0.8%, and Nasdaq futures were up 1.1%.

Oil prices fell, with front-month global benchmark Brent crude down 0.6% at $81.88 per barrel and US West Texas Intermediate crude down 0.5% at $77.92 per barrel.

The personal consumption expenditure price index, released at 8:30 am ET, rose 0.1% in June, in line with estimates compiled by Bloomberg, following a flat print in May. Excluding the volatile food and energy components, which is the Fed's preferred inflation measure, the price index rose 0.2% as expected for the month versus a 0.1% uptick previously.

Consumer sentiment, due at 10 am ET, is expected to come in at 66 in the final reading for July.

In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished ticked up 0.1%. Meanwhile, UK's FTSE 100 rose 0.9%, and Germany's DAX index advanced 0.5% in Europe's early afternoon session.

In equities, shares of 3M Company ( MMM ) were 6% higher pre-bell after the company posted Q2 results that topped analysts' estimates. Bristol-Myers Squibb ( BMY ) shares rose 7% on stronger Q2 earnings results.

On the losing side, DexCom ( DXCM ) shares sank 36% after the company lowered its 2024 revenue guidance.