US STOCKS-Futures point to higher open after GDP data

miércoles 30 de julio de 2014 09:05 GYT

* Twitter rallies in premarket after blockbuster results

* Fed statement awaited, expected to trim monthly stimulus

* Futures up: Dow 66 pts, S&P 8.75 pts, Nasdaq 23 pts (Updates prices, adds economic data)

By Ryan Vlastelica

NEW YORK, July 30 (Reuters) - U.S. stock index futures pointed to a higher open on Wednesday after the first read on second-quarter economic growth came in much stronger than expected, overshadowing a weak report on the labor market.

* Gross domestic product grew at a 4 percent annual rate in the second quarter, above the 3 percent rate that had been expected and a sharp reversal from the weather-impacted first quarter, when the economy contracted 2.9 percent.

* Futures added to gains following the report, but had already been on track to open higher as investors sought bargains following a period of weakness.

* Market participants shrugged off the ADP National Employment Report, which showed that companies hired 218,000 workers in July, a level that was below analysts' projections and was also down from June.

* Twitter Inc surged 25 percent to $48.25 in heavy premarket trading a day after reporting that monthly active users had risen a better-than-expected 24 percent in the second quarter. The social networking company also gave a revenue outlook that was above forecasts.   Continuación...