Global stocks were relatively flat on Tuesday morning after China's central bank announced an increase to its key interest rate.
U.S. stock index futures were almost unchanged with about an hour before markets open, suggesting that stocks will open flat when trading starts. Futures for the Dow Jones industrial average were up 6 points. Futures for the broader S&P 500 were unchanged. Both indexes posted gains on Monday, with the Dow extending its winning streak to six consecutive trading sessions.
In Europe, the U.K.'s FTSE 100 was down 0.2 per cent and Germany's DAX index was up 0.2 per cent in afternoon trading. In Asia, Japan's Nikkei 225 rose 0.4 per cent in overnight trading.
China said it will raise its key rate by 0.25 per cent, effective on Wednesday, as it continues to apply the brakes to its economy in an attempt to bring down inflation and halt troubling gains in its housing market.
Meanwhile, Boston Consulting Group said that new credit card regulations could costs U.S. card issuers as much as $25-billion (U.S.) in lost revenue.
In earnings news, Toyota Motor Corp. reported that its fiscal third-quarter earnings slumped 39 per cent over last year. However, the world's biggest auto manufacturer raised its outlook for the year.Report Typo/Error