* Futures up: Dow 77 pts, S&P 7 pts, Nasdaq 11.25 pts
By Tanya Agrawal
May 1 (Reuters) - U.S. stock index futures were higher on Friday ahead of the release of data that could support signs that the economy is regaining momentum after stumbling in the first quarter.
* Construction spending is expected to have risen in March after slipping in February, while the Institute for Supply Management’s manufacturing index is expected to have increased in April from March. Both numbers are expected at 10:00 a.m. EDT (1400 GMT)
* Automakers are expected to report that sales moderated in April after rising the previous month. The data is due at 13:30 p.m. (1730 GMT)
* The latest batch of data comes a day after data showed that the number of Americans filing new claims for jobless benefits fell to a 15-year low last week and consumer spending rose in March.
* The dollar bounced from a two-month low against a basket of currencies on Friday, also drawing encouragement from the recent stronger-than-expected data.
* U.S. stocks, led by the Nasdaq, sold off on Thursday as Apple declined, and tech and biotech results disappointed. The S&P tech index closed down 1.6 percent and was the day’s worst-performing sector.
* LinkedIn shares slumped 20.4 percent to $200.81 in premarket trading, a day after the professional social network operator slashed its full-year profit forecast.
* Dow component Visa was down 2.2 percent at $64.60, after a weaker-than-expected profit forecast for the current quarter, hurt by the strong dollar.
* Tesla rose 3.1 percent to $233 after it unveiled a new battery pack for homes, companies and utilities that will expand its business beyond electric vehicles.
* Earnings expected on Friday include Dow component Chevron , Warren Buffett’s Berkshire Hathaway and Charter Communications.
Futures snapshot at 7:22 a.m. EDT (1122 GMT):
* S&P 500 e-minis were up 6.75 points, or 0.32 percent, with 50,658 contracts traded.
* Nasdaq 100 e-minis were up 11.25 points, or 0.26 percent, on volume of 9,298 contracts.
* Dow e-minis were up 77 points, or 0.43 percent, with 10,037 contracts changing hands. (Reporting by Tanya Agrawal; Editing by Savio D‘Souza)