* Tesla up after unveiling new battery pack for homes
* LinkedIn slumps after cutting forecast
* Futures up: Dow 85 pts, S&P 7 pts, Nasdaq 9 pts (Adds details, comment, updates prices)
By Tanya Agrawal
May 1 (Reuters) - U.S. stocks were poised to open 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 numbers come 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.
U.S. stocks sold off on Thursday as Apple declined, and tech and biotech results disappointed. The S&P tech index was the day’s worst-performing sector.
“Thursday’s sell-off is behind us and we’re having a bit of relief-rally as we go into numbers today,” said Adam Sarhan, chief executive of Sarhan Capital in New York.
“Its a new month and big institutional investors that allocate on a monthly basis are still moving money into the market.”
S&P 500 e-mini futures were up 6.5 points and their fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a higher open.
Dow Jones industrial average e-mini futures rose 85 points and Nasdaq 100 e-mini futures added 8.75 points.
Tesla rose 3.1 percent to $233 in premarket trading after it unveiled a new battery pack for homes, companies and utilities that will expand its business beyond electric vehicles.
EnerNOC soared 23 percent to $13.58 after the maker of software to regulate power said it partnered with Tesla.
CVS inched up 1.7 percent to $101 after it reported a better-than-expected quarterly profit, helped by higher revenue from its specialty pharmacy services.
LinkedIn shares slumped 20.1 percent to $201.30, a day after the professional social network operator slashed its full-year profit forecast.
Expedia gained 5.6 percent to $99.50 after the world’s second-largest online travel services company’s quarterly profit exceeded analysts’ expectations.
S&P 500 earnings for the first quarter now are expected to have risen 1.1 percent, Thomson Reuters data showed, while revenue is expected to have fallen 3.2 percent.
Healthcare and financials are the fastest growing, while energy and healthcare have delivered the largest earnings surprises, Jonathan Golub, chief U.S. market strategist at RBC Capital Markets, wrote in a note. (Editing by Savio D‘Souza)