World stocks steady amid firm Chinese growth, earnings

TOKYO (AP) — Global stock markets were steady Wednesday after China reported its economy expanded at a firm pace in the July-September quarter and investors awaited more U.S. corporate earnings reports.

The 6.7 percent annual pace of growth reported by China was supported by strong consumer spending that helped offset weakness in trade.

Financial sector growth is also likely to have recovered as last year's equity bubble dropped out of the base for comparison, Julian Evans-Pritchard of Capital Economics said in a commentary.

Market support could come from earnings reports, which have been surprisingly strong so far in the U.S. from the likes of Netflix, UnitedHealth Group and other companies.

The bank is not expected to take action and all eyes will be on ECB Mario Draghi's news conference for hints on whether the ECB will continue its bond-buying beyond the March expiration date.