US STOCKS-Wall St up on GDP data; Twitter has biggest jump ever

miércoles 30 de julio de 2014 10:12 GYT

* Twitter rallies after blockbuster results

* GDP shows more economic growth than expected in Q2

* Fed statement awaited, expected to trim monthly stimulus

* Biotechs rally on Amgen results, Regeneron trial data

* Indexes up: Dow 0.3 pct, S&P 0.4 pct, Nasdaq 0.7 pct (Updates to market open, adds analyst comment and Amgen results)

By Ryan Vlastelica

NEW YORK, July 30 (Reuters) - U.S. stocks were boosted Wednesday by some bullish earnings and a read on second-quarter economic growth that 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 a revised 2.1 percent.

Twitter Inc surged on heavy volume, jumping 25 percent to $48.25 in its biggest one-day advance ever 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 forecast above forecasts.   Continuación...