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US stocks higher on good economic news, Twitter

November 7, 2013

NEW YORK (AP) — Stocks are opening higher as U.S. economic growth accelerated, Europe’s central bank cut interest rates and investors anticipated Twitter’s big stock debut.

The Dow Jones industrial average rose 33 points to 15,780 in early trading Thursday. The Standard & Poor’s 500 stock index rose two points to 1,772. The Nasdaq rose three points to 3,935 following two days of declines.

The economy expanded at an annual rate of 2.8 percent in the third quarter. Economists had expected growth to slow to 2 percent from the previous quarter’s 2.5 percent.

Before the market opened, the European Central Bank cut its benchmark refinancing rate to a record low of 0.25 percent from 0.5 percent.

Twitter begins trading under the ticker “TWTR.” It’s the most anticipated initial public offering since Facebook last year.

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