Stock futures are near flat Tuesday evening after a losing day as oil prices continue their ascent.
Dow Jones Industrial Average futures lost 15 points. S&P 500 futures and Nasdaq 100 futures also traded near their flatlines.
Brent crude futures at one point jumped above $99 per barrel after the settle on Tuesday following a report that Iran launched an second salvo of attacks on U.S. Navy ships this week that was previously undisclosed. U.S. West Texas Intermediate crude crept above $94 per barrel in extended trading.
Oil's after-hours rise follows an advance for crude in the session that put downward pressure on the three major averages in their first session of a holiday-shortened trading week. The stock market was dark on Monday in observance of the Labor Day holiday.
The Dow dropped 1.2% on Tuesday, marking its worst day in almost three weeks. The S&P 500 and Nasdaq Composite slid 0.6% and 0.3%, respectively.
The 10-year U.S. Treasury yield briefly climbed above the closely watched 4.8% level on Tuesday as rising oil prices added to concerns about inflation. The action in yields further weighed down stocks in the session.
It's "a little bit of a speed bump," said Kara Murphy, investment chief at Kestra Investment Management, on CNBC's "Closing Bell." "There's a little bit less to focus on with the earnings front, so I think the market has sort of shifted its attention now to the risk side."
There are no major economic data releases or corporate earnings reports slated for release on Wednesday. Later in the week, traders will monitor readings on inflation for signals on how the Federal Reserve may move interest rates.
1 Hour AgoSee the stocks moving after hours
Thomas Fuller | SOPA Images | Lightrocket | Getty ImagesThese are some of the stocks moving in extended trading:
- ServiceTitan — The software provider's stock tumbled 19% after posting current-quarter revenue guidance that came in slightly below analyst forecasts. However, ServiceTitan surpassed Wall Street consensus estimates on both lines in the second quarter.
- Casey's General Stores — The chain lost 10% despite beating expectations on both lines for the first fiscal quarter. Casey's said it anticipates inside same-store sales will grow by between 2% and 5% in the full year.
- Mission Produce — Shares of the avocado producer popped 7.5%. Mission Produce beat the expectations of every analyst polled by FactSet for both earnings per share, excluding items, and revenue in its fiscal third quarter.
— Alex Harring
1 Hour AgoStock futures are little changed
Futures tied to the Dow, S&P 500 and Nasdaq 100 all traded near flat shortly after 6 p.m. ET Tuesday night.
— Alex Harring