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Stocks Rise at the Open as U.S. Economy Grows Above Estimates


U.S. markets opened higher on Wednesday as the latest GDP numbers showed the U.S. economy grew by 4% in the second quarter, better than expected. Wednesday is loaded with economic reports. The ADP reported private sectors added 218,000 jobs in July. Economists were expected more jobs but use this data to get a feeling for the Labor Department's employment report due Friday. The Fed Reserve will announce the outcome of their meeting on monetary policy at 2 pm, eastern. Twitter (TWTR) shares are higher following the release of the company's quarterly earnings release Tuesday after the closing bell. The company reported a profit of 2 cents a share versus a loss of a penny that was expected. Amgen (AMGN) said it would cut up to 15% of its global workforce. Netflix (NFLX) and AT&T (T) struck a deal on interconnection. More earnings reports after the bell including Whole Foods (WFM), Yelp (YELP) and MetLife (MET). TheStreet's Susannah Lee reports from New York.