Opening Bell: U.S. Stocks Rise on Upward Revision to Q1 GDP

U.S stocks opened higher on Friday on the back of an upwardly revised first quarter GDP number. The economy expanded by 0.8 percent during the quarter, compared to a previously reported 0.5 percent. Plus, consumer spending rose 1.9 percent in first quarter, while economists had expected a 2.2 percent increase. GameStop (GME) - Get Report shares sunk after reporting a 4.4 percent drop in sales to $1.97 billion for the first quarter. Comparable store sales fell 6.2 percent year-over-year. Finally, Federal Reserve Chair Janet Yellen is speaking at Harvard University on Friday. Investors will be looking for any clues on the timing of the central bank's next rate hike. TheStreet's Scott Gamm reports from Wall Street.