Stock futures fell on Wednesday as Treasury yields rose, with investors reacting to the release of September’s consumer inflation report. Futures tied to the broad market index were down 0.2%, while Nasdaq-100 futures shed 0.5%. Dow Jones Industrial Average futures lost 62 points, or 0.1%. The consumer price index rose 0.6% in September month over month, with its year-over-year gain coming in at 3.7%. While the former was in line with expectations, the latter was hotter than expected, as economists polled by Dow Jones had anticipated a 3.6% advance on the year. Excluding food and energy prices, core CPI posted a monthly and yearly advance of 0.3% and 2.6%, respectively. Both were also slightly higher than the increase of 0.2% and 2.5% that economists had expected. Treasury yields jumped following the report, with the 10-year Treasury yield up more than 6 basis points at 5.278% and the 30-year Treasury yield up more than 2 basis points at 5.59%. Both had hit new 24-year highs last week. The report comes as oil prices remain elevated and consumers pay more for gasoline, which is averaging at $4.34 a gallon, compared to $3.08 per gallon a year earlier, according to AAA. Last week President Donald Trump announced he would temporarily ease restrictions on Russian diesel fuel exports, but analysts don’t believe the deal will do much to lower fuel prices for truckers and farmers. U.S. oil prices moved higher Wednesday, with U.S. West Texas Intermediate futures up nearly 2% at about $96 per barrel. Bank of America shares declined 4% after the banking giant reported third-quarter results. The numbers come a day after BofA was hit with more than $1.2 billion in federal penalties, with regulators saying the bank failed to report more than $5 billion in “suspicious” transactions. Morgan Stanley’s latest quarterly results topped expectations, though the stock was last trading marginally lower. A swath of big banks posted strong quarterly results Tuesday, but shares ended the day lower, with Goldman Sachs and Citigroup falling. The market’s reaction suggested businesses have a higher bar to clear during the third-quarter earnings season—especially in tech, where semiconductors are expected to be the largest contributor to year-over-year earnings growth. S&P 500 companies are expected to post a blended earnings growth rate of roughly 30%, while semiconductors and semiconductor equipment are set for growth of 130%, according to FactSet data. “The business fundamentals are very strong. It’s very hard to argue with the demand side of the story for chips,” Marta Norton, chief investment strategist at Empower, told CNBC’s “Closing Bell: Overtime.” “I don’t know if we necessarily question how good those business fundamentals are as much as we question how much valuation is left in the space.” In Asia, Australia’s S&P/ASX 200 was down 0.62%. Japan’s Nikkei 225 added 0.32%, while South Korea’s Kospi rose 0.82%. Gold edged lower for a third straight session on ​Wednesday as oil prices ​climbed, while investors turned ​their attention to incoming U.S. inflation data for clues on the Federal Reserve’s next policy move. Spot gold dipped 0.3% to $4,142.85 per ounce. U.S. gold ⁠futures ‌for December delivery fell 0.3% to $4,165.40 per ounce.