NEW YORK (AP) _ Stocks opened higher today as Asian markets steadied after suffering some deep declines on Tuesday.

At 10 a.m. on Wall Street, the Dow Jones industrial average was up 29.59 at 7,838.54. Broad-market indicators were also posting modest gains.

Advancing issues outnumbered decliners by a 2-to-1 margin on the New York Stock Exchange, where volume came to 70.46 million shares.

The Standard & Poor's 500 list was up 5.20 at 956.02, and the NYSE composite index was up 2.20 at 499.18.

The Nasdaq composite index was up 8.32 at 1,597.36, and the American Stock Exchange composite index was up 1.11 at 662.91.

Share prices rose 1.1 percent in Tokyo today amid strong hints of government help for Japan's struggling financial system. The partial recovery from Tuesday's 5 percent slide helped push Hong Kong and other Asian markets higher. Analysts cautioned, however, that the region's economic problems were far from resolved.

There was limited reaction this morning to a flurry of new economic data.

The Commerce Department reported that strong consumer spending and business investment in equipment pushed economic growth to a robust 3.3 percent annual rate in the third quarter, matching the second quarter pace.

The third quarter's expansion was achieved with little inflation. A price measure linked to GDP inched up at a 1.5 percent annual rate, the smallest increase in five years.

Separately, the Labor Department said the number of first-time claims for unemployment benefits fell more than expected last week, dropping 31,000 to 303,000.

In afternoon trading in Europe, Frankfurt's DAX index was up 1.7 percent and London's FT-SE 100 was up 0.6 percent.