U.S. STOCKS-Wall St to open lower after GDP offsets jobs data

* Exelon (Frankfurt: PEO.F - news) to buy Pepco Holdings (NYSE: POM - news) , Pepco shares rally

* Twitter (NYSE: TWTR - news) , EBay (NasdaqGS: EBAY - news) shares down a day after results

* FOMC statement due later in the day

* Futures dip: Dow 2 pts, S&P 2 pts, Nasdaq 10 pts (Adds jobs, GDP data, comment; updates prices)

By Rodrigo Campos

NEW YORK (Frankfurt: HX6.F - news) , April 30 (Reuters) - U.S. stocks were set to fall at the open on Wednesday after data showed the economy grew at a sharply lower-than-expected pace in the first quarter, but gains in private payrolls kept losses in check.

* Gross domestic product expanded at a 0.1 percent annual rate, the slowest since the fourth quarter of 2012, as exports and inventories weighed, but activity already appears to be bouncing back. It was a sharp pullback from the fourth quarter's 2.6 percent pace.

* U.S. private employers, however, beat expectations by adding 220,000 workers in April, the highest amount since November, and gains in the prior month were revised up to 209,000 from 191,000.

* Twitter shares fell 11.5 percent premarket a day after it posted earnings that showed lackluster user and usage growth for the second consecutive quarter.

* EBay shares fell 4.8 percent after it forecast lower-than-expected earnings this quarter.

* S&P 500 e-mini futures fell 2 points. Fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract, indicated a lower open. Dow Jones industrial average futures fell 2 points and Nasdaq 100 futures lost 10 points.

* Nuclear power producer Exelon, which also reported earnings earlier on Wednesday, said it would buy Pepco Holdings for $6.83 billion. Pepco shares jumped 18 percent in premarket trading. Exelon fell 1.1 percent.

* French engineering group Alstom (Paris: FR0010220475 - news) said it would study a $16.9 billion offer from General Electric (Swiss: GE.SW - news) for its energy arm but left the door open for a rival bid from Germany's Siemens. GE shares edged up 0.3 percent in premarket trading.

* Markets will have their eyes on the Federal Reserve's policy-setting meeting, as well, set to end later on Wednesday. The Fed is expected to cut its bond-buying program by a further $10 billion on signs the U.S. economy is picking up steam after a winter slowdown. (Reporting by Rodrigo Campos; Editing by Bernadette Baum and Nick Zieminski)