US STOCKS-Wall St extends gains, helped by GDP data
* Second-qtr GDP rose 3.7 pct vs earlier reading of 2.3 pct
* Weekly jobless claims fall more than expected
* World bourses gain after brutal week
* Tiffany falls after forecasting profit decline
* Indexes up: Dow 1.38 pct, S&P 1.47 pct, Nasdaq 1.58 pct (Updates to open)
By Tanya Agrawal
Aug 27 (Reuters) - U.S. stocks rose sharply on Thursday, a day after posting their biggest one-day gain in four years, as data showed the U.S. economy grew faster in the second quarter than initially thought.
Annual U.S. gross domestic product growth was revised up to 3.7 percent from the 2.3 percent rate reported last month. Other data showed jobless claims fell more than expected last week, pointing to a steadily firming labor market.
While strong data points to increased chances of an interest rate hike in September, some investors said the recent volatility in markets triggered by fears of slowing growth in China could force the U.S. Federal Reserve to hold back on a rate increase next month. Continuación...