Stock futures slip, putting Wall Street on track for another losing session: Live updates

Stock futures fell Wednesday, putting Wall Street on course to add to the previous session’s losses.

Futures tied to the S&P 500 and Dow Jones Industrial Average were lower by 0.3% and 100 points, respectively. Nasdaq-100 futures pulled back 0.3%.

The Dow finished close to 200 points, or roughly 0.6%, lower on Tuesday, while the S&P 500 and Nasdaq Composite slipped 0.4% and nearly 0.1%, respectively.

Roku shares surged more than 10% before the bell after sharing a slew of cost-cutting measures, including layoffs.

Part of the downward pressure came from oil prices, which rose to their highest level since November after Saudi Arabia and Russia extended their voluntary supply cuts and a jump in Treasury yields. Oil prices and yields climbing can raise concerns about how the Federal Reserve will move interest rates going forward, according to Bill Merz, head of capital market research at U.S. Bank Wealth Management.

“Rising oil prices really feeds into the story about inflation,” he said. “And the story about inflation feeds into bond yields and a story about the Fed and what the Fed is going to do.”

On the economic front, investors assessed fresh U.S. trade deficit data, which showed the trade shortfall rise less than expected in July. A new beige book, which summarizes economic activity, will be released in the afternoon.

GameStop, American Eagle Outfitters and ChargePoint are among stocks slated to report earnings after the bell.