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 bankruptcy would take at least 60 to 90 days and perhaps longer to complete, a senior official said on Thursday.

Italian automaker Fiat SpA is still interested in buying German peer Opel but more cannot be asked for a takeover, it said on Friday. Fiat will skip a German government meeting in Berlin on Friday to discuss emergency funding of Opel, a unit of General Motors Corp , it said in a statement.

Auto parts supplier Delphi Corp may soon emerge from bankruptcy with the Obama administration's autos industry taskforce pushing for a sale of its assets, possibly to another parts supplier or an investment firm, the New York Times said, citing people briefed on the matter.

A local Swedish court on Friday granted General Motors' loss-making unit Saab a further extension to its protection from creditors, giving it more time to restructure.

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.

Solvay SA , the Belgian chemicals, plastics and drugs company, is set to receive a range of proposals for its pharmaceutical unit by Friday's deadline for indicative bids, people familiar with the matter said.

Jeweller Tiffany & Co is due to release financial results.

Shares in computer maker Dell Inc rose more than 1 percent to $11.61 after the bell on Thursday following the company's first-quarter results.

Shares in J Crew Group jumped more than 13 percent to $23.25 in extended trading on Thursday after the retailer posted its first-quarter results.

Shares in Marvell Technology Group fell 5.5 percent to $11.05 in extended trade when the company reported first-quarter results after the bell.

Shares in Omnivision Technologies Inc rose 5.6 percent to $11.17 in extended trade after the company posted fourth-quarter results for its fiscal year 2009.

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)

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