Futures for U.S. markets were negative late Tuesday despite an up day on Wall Street, highlighting the schizophrenic trading environment where investors are worried about the current administration but pleased with earnings season so far.
The S&P 500 slipped 0.12%, Nasdaq 0.01% and the Dow Jones Industrials Average 0.03% at 9:18 p.m. EST.
Investors bid the Dow and Nasdaq up to new intra-day highs Tuesday and left stocks higher as earnings continue to surprise analysts. Many traders also continue to bet that the Trump administration will get around to tax and regulation reform at some point in the near future.
The optimism pushed the S&P up 0.02% Tuesday with Nasdaq and the Dow adding 0.19%. Earlier in Europe, Germany's Dax gained 0.34% while the FTSE added 0.2% in London. The CAC in Paris slipped 0.49%, pulled down by lower bank earnings.
Asia started Wednesday mixed as a surprise build in U.S. crude inventories pushed back energy shares. The Nikkei in Japan gained 0.02% and the ASX in Australia 0.22% while the Hang Seng in Hong Kong slid 0.56% and South Korea's Kospi 0.99% at 9:23 p.m. EST.
In oil, a future for a barrel of industry standard Brent crude delivered in April slipped 0.89% to $54.56 at 9:25 p.m. while an equivalent West Texas future slid 1.19% to $51.55. The West Texas future would be delivered in March.
The dollar index, a yardstick of the U.S. currency, remained above 100 for the second evening this week, slipping 0.08% to 100.32 at 9:33 p.m. EST.
In after-hours trade, Zillow Group (Z - Get Report) shares fell 7.2% in extended trading to $34.20 after the property website disappointed with its forecast for its 2017 loss. Seattle-based Zillow forecast a full-year net loss of between $20.2 million to $40.2 million on expected revenue of $1.03 billion to $1.05 billion. Analysts surveyed by FactSet had forecast a full-year loss of $600,000 on revenue of $1.04 billion.
In the final three months of 2016, Zillow reported adjusted earnings of 14 cents a share on revenue of $227.6 million, while analysts had forecast 11 cents a share on revenue of $222.2 million.