US STOCKS-Futures up ahead of GDP data; Twitter soars in premarket

miércoles 30 de julio de 2014 07:30 GYT

* Twitter rallies in premarket after blockbuster results

* Investors look ahead to GDP data, Fed statement

* Futures up: Dow 37 pts, S&P 4.75 pts, Nasdaq 13 pts

By Ryan Vlastelica

NEW YORK, July 30 (Reuters) - U.S. stock index futures rose on Wednesday as investors sought bargains following a period of weakness and looked ahead to data on economic growth and comments from the Federal Reserve following its latest policy meeting.

* U.S. second-quarter economic growth data will be released at 8:30 a.m. EDT (1230 GMT), with GDP expected to have grown 3 percent. That would represent a sharp turnaround from the weather-impacted first quarter, when the economy contracted 2.9 percent.

* The July ADP National Employment report on private sector employment will be released a little earlier, at 8:15 a.m., and is expected to show 230,000 jobs created in the month, down from June's 281,000.

* Twitter Inc surged 27 percent to $49 in heavy premarket trading. On Tuesday, the social media company reported monthly active users had risen a better-than-expected 24 percent in the second quarter and gave a revenue outlook that was above forecasts.

* The results could bolster support for Internet and other social media stocks, assuaging concerns the group is overpriced. Facebook Inc, which also posted strong results this quarter and is up almost 35 percent this year, rose 0.8 percent to $74.31 before the bell.   Continuación...