US equity futures were cautiously higher pre-bell Wednesday as traders looked ahead to earnings from chipmaker Nvidia (NVDA).

Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.5% higher.

Nvidia is scheduled to report after the closing bell.

Oil prices were also higher, with front-month global benchmark North Sea Brent crude up 0.9% at $71.19 per barrel and US West Texas Intermediate crude 0.8% higher at $66.17 per barrel.

The Energy Information Administration will release weekly data on US crude stockpiles at 10:30 am ET.