NEW YORK (TheStreet) -- U.S. stock futures were rising Tuesday along with global markets as better-than-expected Chinese economic data assured investors the world's fastest-growing economy is for now safe from European debt woes.
Futures for the Dow Jones Industrial Average were up 93 points at 12,483. Futures for the S&P 500 were rising 11 points, or 15 points above fair value, at 1,300. Futures for the Nasdaq were gaining 20 points, or 25 points above fair value, to 2,394.
Chinese gross domestic product growth slowed to a rate of 8.9% in the fourth quarter, its slowest growth in 10 quarters, but better than the 8.7% expected by economists, according to a survey by Thomson Reuters. The Chinese statistics bureau also reported that industrial production increased 12.8% in December from a year earlier, a sign that China may yet avoid a hard landing provoked by declining demand from Europe.
Meanwhile, Greek citizens met in the capital Tuesday to protest European Union and International Monetary Fund interference in the country as the Mediterranean nation moved one step closer to a disorderly default. Greeks protested austerity measures as officials met in a race-against-the-clock meeting to pull together an agreement for a second bailout package before a bond payment comes due in late March.Germany's DAX was up 1.7% while London's FTSE was up 0.7%. Japan's Nikkei Average settled 1.1% higher and Hong Kong's Hang Seng climbed 3.2%.
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