Stocks are rallying

Dollars Flying Volatility

(REUTERS/Marcelo Del Pozo)

Stocks futures are higher after Thursday's lower close that briefly turned the Dow negative for the year.

Near 11:20 a.m. ET, the Dow was up 123 points, the S&P 500 was up 12 points, and the Nasdaq was up 36 points.

On Thursday night, Elon Musk finally unveiled Tesla Energy, which the company describes as "a suite of batteries for homes, businesses, and utilities fostering a clean energy ecosystem and helping wean the world off fossil fuels."

LinkedIn shares are still getting smoked, down by up to 17% in early trading, after it gave revenue guidance below expectations in its earnings report Thursday.

There's lots of economic data coming through on Friday.

Auto sales figures for April are rolling in throughout the morning. Ford, Fiat Chrysler, and Nissan have all posted numbers below expectations.

And, the latest manufacturing data from ISM and Markit came through. ISM manufacturing came in at 51.5, unchanged from March but below expectations for 52.0. The report noted that manufacturing employment is contracting at a faster rate, down 1.7% month-over-month.

And, the PMI print from Markit Economics release earlier, which showed that manufacturing activity slowed to the weakest this year in April.

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