NEW YORK (CNNMoney)
China reported third quarter growth of 7.8%, the strongest performance since the end of last year. The rebound eased fears of a hard landing and puts the world's second biggest economy on track to meet its official growth target for 2013.
World markets were broadly firmer and U.S. stock futures were edging up.
U.S. stocks finished mostly higher Thursday, with the S&P 500 hitting a new record after Congress agreed to a temporary deal to reopen the federal government and suspend the debt ceiling, averting a default.
But mixed earnings from corporate heavyweights kept the Dow Jones industrial average flat, and investors will be focusing on another batch of quarterly reports due Friday.
Morgan Stanley (MS, Fortune 500) becomes the latest of the mega-banks to release results on Friday morning. General Electric (GE, Fortune 500), Schlumberger (SLB) and Honeywell (HON, Fortune 500) are also scheduled to report.
Related: Fear & Greed Index
Google (GOOG, Fortune 500) shares surged in after-hours trading Thursday after the search giant reported quarterly earnings and sales that beat expectations.
Chipotle (CMG) shares also rallied after-hours following quarterly sales that came in ahead of expectations and solid same-store growth.
European markets were firmer in morning trading. Most Asian markets ended with gains, boosted by the Chinese data, but Japan's Nikkei index slipped 0.2%.
First Published: October 18, 2013: 5:08 AM ET
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