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Stocks open higher after latest US growth numbers

NEW YORK (AP) - U.S. stocks are opening slightly higher after the government said the economy grew at a slightly better pace in the spring than first thought.

The Dow Jones industrial average is up 12 points to 13,115 shortly after the opening bell. The Standard & Poor's 500 index is up two points to 1,411. The Nasdaq is up five points to 3,082.

The U.S. economy expanded at a 1.7 percent annual rate from April through June thanks to slightly stronger consumer spending and exports.

That's better than the initial estimate of 1.5 percent. But it's not enough to put a dent in the unemployment rate.

A handful of companies reported earnings Wednesday. H.J. Heinz posted a 14 percent jump in quarterly net income, driven by higher prices and emerging-market sales.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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