US STOCKS-Wall St to tick up after jobs, GDP data
* Jobless claims fall more than expected, 1st qtr GDP revised lower
* Apple to buy Beats for $3 bln, producer Iovine to join company
* Hillshire shares jump as Tyson bids more than Pilgrim's Pride
* Futures up: Dow 22 pts, S&P 2 pts, Nasdaq 4 pts (Updates prices, adds economic data)
By Rodrigo Campos
NEW YORK, May 29 (Reuters) - U.S. stocks were set to tick higher at the open on Thursday after data showed the U.S. economy contracted in the first quarter, due to weather, but signs show activity has since rebounded.
* Supporting a push higher on the S&P 500, which could challenge its record set earlier this week, the number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to a strengthening labor market.
* The U.S. 10-year note yield ticked up after the data but was still near its lowest in 11 months. Low yields could continue to entice investors into dividend-paying stocks, with the high-yielding utilities sector of the S&P 500 widely outperforming the benchmark so far this year.
* S&P 500 e-mini futures were up 2 points in low volume. Fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a slightly higher open. Dow Jones industrial average e-mini futures rose 22 points and Nasdaq 100 e-mini futures added 4 points. Continuación...