US STOCKS-Rate cuts, credit thaw set to lift market


* Taiwan, Hong Kong follow Fed in cutting rates * GDP data shows U.S. economy shrank less than expected * Optimism about credit thaw adds to positive tone * Colgate-Palmolive, Exxon Mobil beat profit estimates (Recasts first paragraph, updates prices) By Ellis Mnyandu NEW YORK, Oct 30 (Reuters) - U.S. stocks headed for a sharply higher open on Thursday after several central banks followed the U.S. Federal Reserve in cutting interest rates, buoying hopes the actions will lessen the ...

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