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U.S. Stocks Poised For Higher Open With Data in Focus

U.S. stocks were set to open higher Friday after declining Thursday from lackluster U.S. economic-growth figures and vague guidance Wednesday from the Federal Reserve on the timeline for raising interest rates.

The pre-market gains Friday came ahead of economic data on manufacturing and consumer sentiment.

In Europe, markets were closed for International Workers' Day.

In economic data due Friday, the Markit purchasing-managers manufacturing index for April, due at 9:45 a.m. ET, is expected to show an edge down to 54.2 from 55.7 in May. The consensus range is between 54.0 and 56.0.

At 10 a.m., the Institute for Supply Management's manufacturing survey for April is seen edging up to 52.0 from 51.5 in March, within a consensus range between 50 and 53.0.

Also at 10 a.m., the University of Michigan's consumer-sentiment index is expected to remain nearly level at 96.0 in April from 95.9 in March. Finally, construction spending for March is expected to have edged up 0.4% from February, when it declined by 0.1%. The consensus range is between a 0.6% decline and a 1.8% increase.

In equities, CVS Health ( CVS ) shares rose 1.1% on better-than-expected Q1 earnings. Moody's ( MCO ), the provider of credit ratings and economic research, was another bright spot, up 1.8% after reporting earnings. Meanwhile, LinkedIn ( LNKD ) shares fell 20% on worse-than-expected guidance for Q2 and the year.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.5%

-S&P 500 futures up 0.3%

-Nasdaq 100 futures up 0.2%

-Nasdaq 100 pre-market indicator up 0.3%

GLOBAL SENTIMENT

Nikkei up 0.08%

Hang Seng down 0.9%

Shanghai Composite down 0.5%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: unchanged

(+) Software stocks: unchanged to higher

(+) Hardware stocks: unchanged to higher

(+) Internet stocks: higher

(+/-) Drug stocks: mixed

(+) Financial stocks: unchanged to higher

(+) Retail stocks: unchanged to higher

(+) Industrial stocks: unchanged to higher

(+) Airlines: unchanged to higher

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) TSLA (+1.3%) Launches battery pack system for home, commercial use

(+) AEM (+3.1%) Q1 earnings beat views, record production

(+) NWL (+2.3%) Q1 earnings exceed expectations

(+) TASR (+1.4%) Dougherty raises PT to $34 vs $28

(+) ELLI (+8.2%) Roth Capital raises PT to $72; reports Q1 results

(+) OCN (+14.0%) Preliminary Q1 tops estimates

(+) SWKS (+4.0%) Reports better-than-expected Q2 results, Q3 guidance

(+) FEYE (+5.6%) Q1 exceeds views, sees Q2, FY mostly in line

DOWNSIDE MOVERS

(-) CTB (-6.5%) Q1 misses views

(-) JDSU (-3.2%) Guides fiscal Q4 below Street

(-) FLR (-3.6%) Q1 results miss views

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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