Futures Negative After Upbeat Trading Day, Asia Opens Flat

Futures for U.S. stock markets were strongly negative Tuesday evening after investors pulled back from record intraday highs during the regular trading session, amid questions about the market's direction as the latest earnings season trickles to completion.

Nasdaq was up 0.12% and both the Dow Jones Industrial Average and the S&P 500 0.10% at 9:06 p.m. EDT.

The negative futures come after the U.S. closed higher Tuesday despite giving up gains in the afternoon. Investors appeared to shrug off an unexpected 0.5% decline in productivity as well as a surprise 0.3% increase in wholesale inventories because traders said they believe the post-Brexit rally is here to stay.

Nasdaq closed 0.24% higher at a record 5.225.48 points, while the Dow rose 0.02% Tuesday and the S&P 0.04%.

Asia opened flat Wednesday as investors there wait for economic data out of China later in the week, while worrying about declines Tuesday in oil. Japan's Nikkei was 0.56% lower at 9:24 p.m. EDT while Hong Kong's Hang Seng gained 0.2%. South Korea's Kospi was just 0.01% higher.

Oil continued its decline in Asian trading with futures for industry standard Brent crude off 0.09% at $44.94 a barrel for October delivery and U.S. crude off 0.19% at $42.69 per barrel for September delivery at 9:13 p.m.

The U.S. opened strongly in part because of a rare upbeat day in Europe, spurred on by a handful of strong earnings from the likes of French cable investor Altice and U.K. insurer Standard Life. Germany's Dax gained 2.5% while London's FTSE closed 0.62% higher and France's Cac 1.19%.

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