US equity futures posted losses pre-bell Wednesday as traders digested quarterly reports from tech majors Alphabet (GOOG, GOOGL) and Tesla (TSLA).

Dow Jones Industrial Average futures fell 0.5%, the S&P 500 futures declined 1.0% and the Nasdaq futures were down 1.5%.

Google's parent company, Alphabet, reported better-than-expected Q2 results but its YouTube advertising revenue fell short of analysts' projections. Meanwhile, electric vehicle maker Tesla posted Q2 adjusted earnings that trailed analysts' estimates.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.8% at $81.65 per barrel and US West Texas Intermediate crude up 1.0% at $77.71 per barrel.

The flash S&P Global Composite Purchasing Managers' Index for July is scheduled for release at 9:45 am ET.

New home sales, slated for release at 10 am ET, are expected to increase to 639,000 annual rate in June from 619,000 in May, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 1.1% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.5% lower. Meanwhile, UK's FTSE 100 declined 0.1%, and Germany's DAX 30 index fell 0.7% in Europe's early afternoon session.

In equities, shares of Alphabet were nearly 5% lower pre-bell. Tesla shares fell 9%. Visa (V) shares were down 4% after the company reported fiscal Q3 revenue that missed analysts' estimates.

On the winning side, AT&T (T) shares increased 3.3% after the company reported Q2 adjusted profit in line with analysts' projections. Pieris Pharmaceuticals (PIRS) shares surged 78% after the company agreed to merge with Palvella Therapeutics in an all-stock deal.