NEW YORK - Stock futures are extending their losses following a government report showing the trade deficit fell to its lowest level in five years as demand for oil dropped by a record amount.The Commerce Department said Tuesday the trade deficit narrowed to $40.4 billion in November, a 28.7 percent decline from October's deficit of $56.7 billion.

Economists had been expecting the trade deficit to fall even more sharply this year as demand for imported products wanes.

Following the report, the Dow Jones industrial average futures are down 54 points to 8,390.

Written By SARA LEPRO

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