MARKET SNAPSHOT: U.S. Stocks: Investors Upbeat Ahead Of ISM, Consumer Data

By Sara Sjolin, MarketWatch

LinkedIn tumble premarket after earnings

U.S. stocks are poised for a rebound on Friday, with futures higher ahead of a clutch of data that should show whether the economy got off to a better start in the second quarter.

With earnings season in full flow, results from Chevron Corp. (CVX), CVS Health Corp. (CVS) and Madison Square Garden Co. (MSGNV) are also likely to capture investor attention.

Rebounding from a bloody Thursday on Wall Street (http://www.marketwatch.com/story/us-stocks-more-weakness-in-store-ahead-of-claims-inflation-data-2015-04-30), futures for the Dow Jones Industrial Average (YMM5) climbed 52 points, or 0.3%, to 17,811, while those for the S&P 500 index (ESM5) gained 5.35 points, or 0.3%, to 2,084.25. Futures for the Nasdaq 100 index (NQM5) picked up 5 points, or 0.1%, to 4,413.25.

Even so, the main benchmarks still look on track for weekly losses. This week brought more uncertainty over the timing of the first Federal Reserve rate hike and a weaker-than-expected reading on U.S. gross domestic product in the first quarter.

Friday's data: Investors should get some clues as to whether the U.S. economy got off to a better start in the second quarter, via a crowded docket of April data.

At 9:45 a.m. Eastern Time, the manufacturing purchasing managers' index is due. That's followed by the ISM manufacturing reading at 10 a.m. Eastern, and the University of Michigan's consumer-sentiment index hits at the same time. Car sales for April will trickle out throughout the day.

Construction spending for March comes out at 10 a.m. Eastern.

Cleveland Fed President Loretta Mester gives a speech on issues in consumer credit to a Philadelphia Fed conference at 8:30 a.m. Eastern. Mester isn't a voting member of the Fed's policy-setting committee this year.

Earnings: Reporting ahead of the bell, Chevron (CVX) is projected to report first-quarter earnings of 79 cents a share, according to a consensus survey by FactSet. The results will be watched after Exxon Mobil Corp.(XOM), the biggest U.S. oil company, on Thursday posted a 46% drop in profit, but beat analyst expectations.

Also reporting on Friday, CVS Health(CVS) is forecast to report first-quarter earnings of $1.08 a share, while Madison Square Garden Co.(MSGNV) is forecast to report fiscal third-quarter earnings of 42 cents a share.

Clorox Co.(CLX) is expected to post first-quarter earnings of $1.10 a share.

After the closing bell, Warren Buffett's Berkshire Hathaway Inc.(BRK/A) (BRKA) is slated to report, a day ahead of the company's annual shareholder meeting in Omaha. Read: 50 best things Warren Buffett told investors over past 50 years (http://www.marketwatch.com/story/a-half-centurys-worth-of-wisdom-from-warren-buffett-2015-02-27)

Movers and shakers: Shares of LinkedIn Corp. (LNKD) slumped 18% premarket, after the professional networking company late Thursday issued a profit forecast well below Wall Street estimates (http://www.marketwatch.com/story/new-york-times-exxon-aig-linkedin-fireeye-earnings-in-focus-2015-04-30).

Visa Inc.(V) dropped 1.7% in thin premarket trade after the payment-card company reported second-quarter earnings late Thursday (http://www.marketwatch.com/story/visas-quarterly-revenue-rises-8-2015-04-30-164851848).

American International Group Inc.(AIG) could also move, after the insurance giant said Thursday its first-quarter profit jumped (http://www.marketwatch.com/story/aigs-profit-jumps-tops-expectations-2015-04-30) to $2.47 billion, or $1.78 a share, from $1.61 billion, or $1.09 a share, a year ago.

Other markets: Most markets were closed in Asia and Europe for their Labour Day holiday. Among few open bourses in Asia, Japan's Nikkei 225 index ended slightly higher, while in Europe, the U.K.'s FTSE index was wobbling around the flat line (http://www.marketwatch.com/storyno-meta-for-guid).

Most energy and metals futures declined, while the dollar (DXY) inched higher.

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