Stock index futures pointed to a higher open on Wall Street on Friday as the U.S. dollar edged lower and commodities prices rose.

BlackBerry smartphone maker Research In Motion Ltd , however, could hamper gains after its outlook fell short of expectations. The stock was down 1.2 percent before the bell, even as the company reported a rise in quarterly profit that topped forecasts after the close on Thursday.

The U.S. dollar was down 0.2 percent against a basket of currencies <.DXY> in part because the British Bankers' Association plans to change its definition of London interbank offered rates to allow a greater number of institutions to participate in the daily rate fixing process.

Arthur Hogan, chief market analyst with Jefferies & Co in New York, cited concerns about the credit quality of new participants in the Libor fixing process. As a result, any volatility in the global benchmark used to set interest rates on a wide range of consumer and corporate loans could raise borrowing costs.

Commodities are up a bit on the weaker dollar and that's moving up stocks in early trade, Hogan said.

Over 60 percent of S&P 500 does more top- line revenue overseas than domestically so the weaker dollar will certainly help those multinationals, Hogan added.

S&P 500 futures rose 4.3 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 rose 52 points, while Nasdaq 100 futures advanced 11.50 points.

Kohlberg Kravis Roberts & Co is considering separating a plan that links buying its Amsterdam-listed fund with its own moves to list on the New York Stock Exchange, a source familiar with the matter said, throwing further doubt on whether the private equity giant will list in New York.

Oil rose above $72 a barrel, gaining for a third day, supported by views on equity markets that the economy may be stabilizing and because of geopolitical concerns over key oil producers Iran and Nigeria.

The Dow and S&P 500 rose on Thursday, halting a three-session losing run, as data on the job market and regional manufacturing rekindled hopes the recession-hit economy was steadying.

(Editing by Padraic Cassidy)