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US stocks rise, helped by Facebook, US GDP

Ken Sweet, AP Markets Writer

FILE -In this Wednesday, Jan. 29, 2014, file photo, specialist Paul Cosentino works at his post on the floor of the New York Stock Exchange. Shares were lower Thursday Jan. 30, 2014 as weak economic data from China and Japan deepened jitters over ongoing reductions in U.S. monetary stimulus. (AP Photo/Richard Drew)

NEW YORK (AP) -- U.S. stocks are rising in early trading, helped by strong earnings from Facebook and a report that the U.S. economy grew at an annual rate of 3.2 percent in the fourth quarter.

Major U.S. indexes on Thursday began recovering from steep declines the day before. The Dow Jones industrial average rose 72 points, or 0.5 percent, to 15,811 five minutes after the market opened. The Standard & Poor's 500 index climbed 14 points, or 0.8 percent, to 1,789. The Nasdaq jumped 50 points, or 0.6 percent, to 4,102.

Facebook rose $8.26, or 15 percent, to $61.79. The social media company reported results late Thursday that beat expectations.

A report showed the U.S. economy grew at a 3.2 percent annual rate in the final three months of 2013, a positive sign.