U.S. stock index futures rose on Friday on upbeat results from technology bellwethers Research In Motion and Oracle.

Research In Motion Ltd posted a big jump in profit late Thursday, issued a strong forecast and said it shipped a record-breaking 10 million BlackBerry smartphones. RIM shares were up 11.7 percent to $70.60 in premarket trading.

Oracle Corp reported a bigger-than-expected increase in new software sales and said growth could accelerate the current quarter. Oracle gained 4.9 percent to $24 premarket.

Oracle and RIM earnings are renewing optimism the economy is back on the right track, said Andre Bakhos, president of Princeton Financial Group in North Brunswick, New Jersey.

The market is hungry for data that reinforces a recovery scenario, and it got what it asked for. Call it an early Christmas present, he said.

Amazon.com Inc said Thursday its Kindle electronic book reader broke a monthly sales record in December, as the battle for market share heats up. Shares rose nearly 1 percent to $128.

Palm Inc

reported a wider-than-expected quarterly loss as competition intensifies to grab consumers shopping for new smartphones. [ID:nN17190567]. Palm shares slid 7.8 percent to $10.80.

S&P 500 futures rose 4.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 33 points, and Nasdaq 100 futures added 6 points.

Crude futures rose 1.7 percent to near $74 a barrel after an Iraqi official said Iranian troops briefly entered Iraq's Fakka oilfield briefly on Thursday, and on the prospect of increased winter demand. [ID:nSGE5BH07L]. Exxon Mobil Corp shares gained 0.7 percent to $68.68 on the back of higher oil futures.

Friday marks the expiration of December options and futures, a convergence known as quadruple witching, and often means increased volatility as big investors adjust or exercise derivatives positions.

Nike Inc , the athletic shoe and apparel maker, posted second-quarter profit that topped estimates late Thursday and forecast a return to sales growth.

Activist investor Carl Icahn reported taking an 11.3 percent stake in Take Two Interactive Software Inc , and shares of the video game publisher rose 7.6 percent to $8.88.

U.S. stocks fell on Thursday as a rebounding dollar spurred safe-haven trade, cutting demand for riskier assets, and a soft forecast from bellwether FedEx Corp sank transportation shares.

(Editing by Jeffrey Benkoe)

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