Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes rose 0.3-0.5 percent on Friday, pointing to a higher start on Wall Street.
U.S. Commerce Department is due to release its preliminary (second) Q1 estimate of Gross Domestic Product (GDP) at 8:30 p.m. EDT. Economists in a Reuters survey forecast a 5.5 percent annualized decline compared with a 6.1 percent rate of decline in the Q1 advance (first) estimate. The department is also scheduled to release preliminary Q1 corporate profits. Economists in a Reuters survey forecast a 7.0 percent drop in profits, compared with a 10.7 percent decline in the Q4 report.
The Institute of Supply Management Chicago is to release its May index of manufacturing activity at 9:45 a.m. EDT. Economists in a Reuters survey forecast a reading of 42.0 compared with 40.1 in April. * Reuters/University of Michigan Surveys of Consumers are to release final May consumer sentiment index at 9:55 a.m. EDT. Economists in a Reuters survey expect a reading of 68.0 compared with 65.1 in the final April report.
Economic Cycle Research Institute (ECRI) releases at 10:30 a.m. EDT its weekly index of economic activity for May 22. In the prior week the index read 111.1.
The Obama administration estimates that a General Motors Corp
Italian automaker Fiat SpA
Auto parts supplier Delphi Corp
A local Swedish court on Friday granted General Motors'
A group of banks and money managers plan to release a letter to the Federal Reserve Bank of New York and other U.S. and overseas regulators to help fend off some rules proposed by the Obama administration that seek to control trading in the derivatives market, the Wall Street Journal reported.
Jeweller Tiffany & Co
Shares in computer maker Dell Inc
Shares in J Crew Group
Shares in Marvell Technology Group
Shares in Omnivision Technologies Inc
On Thursday U.S. stocks climbed, with the Dow Jones industrial average <.DJI> up 1.25 percent and the S&P 500 <.SPX> rising 1.5 percent, as higher oil prices drove up energy shares and falling yields in the bond market eased concerns that higher borrowing costs would hinder economic recovery.
(Reporting by Atul Prakash; Editing by Greg Mahlich)