Stocks set to push higher

NEW YORK (CNNMoney.com) -- Stock futures rose Friday as a stronger dollar helped investors maintain the previous session's upbeat mood.

About an hour and a half before the start of trading, Nasdaq and S&P futures were higher and hinting at a positive start for Wall Street.

Stocks advanced Thursday, lifted by strong earnings from automaker Ford (F, Fortune 500) and a sharp drop in crude prices.

Oil prices rose slightly Friday, but remained near weekly lows. A barrel of U.S. crude rose 67 cents to $116.73 in electronic trading. Crude prices, which neared $120 a barrel earlier this week, have fallen as the dollar has gained ground against major currencies.

Companies to watch include Microsoft (MSFT, Fortune 500), which reported a drop in profit late Thursday that still managed to top expectations. The company issued an upbeat forecast for 2009, but investors expressed disappointment with the firm's current quarter outlook. Shares fell 5% in after-hours trading.

American Express (AXP, Fortune 500) reported a dip in profits late Thursday as more Americans missed payments amid the ongoing credit crisis in the U.S. But cardholder spending continued to grow and overseas sales were robust, sending shares up 4% in after-hours trading.

Merrill Lynch (MER, Fortune 500) is in discussions with private equity firm TPG which could lead to TPG taking a stake in the investment bank if Merrill needs more capital, according to a report in the Financial Times.

Honda (HON, Fortune 500) reported a big drop in quarterly profit, which the company attributed to a one-time tax on its Chinese operations. The automaker also said the coming months will be difficult amid a rising yen and slowing North American economy.

In the day's only bit of major economic news, a report on consumer sentiment is due at 10 a.m. ET. The report is expected to show consumer pessimism about the U.S. economy is at a 26 year low.

In global trade, Japan stocks rallied, led by financial stocks. European shares rose in early trading.