* Futures up: Dow 46 pts, S&P 5.5 pts, Nasdaq 9.25 pts
By Abhiram Nandakumar
March 18 (Reuters) - U.S. stock index futures were higher on Friday, a day after the Dow Jones industrial average turned positive for the year, as investors took to riskier assets.
* Global shares rose and the dollar weakened as the U.S. Federal Reserve’s tempered position on interest rate hikes continued to improve sentiment.
* Crude oil dipped slightly as traders booked profits from a rally this week, but remained near 2016 highs on hopes that major oil producers would reach a deal to freeze output.
* Wall Street drifted higher on Thursday, bringing the S&P 500 within shouting distance of a gain for 2016, as energy and materials stocks rose. The Dow closed up 0.324 percent for 2016.
* With the Fed being cautious over rate hikes, investors will now keep a close eye on global economic and financial market conditions to gauge the impact of overseas weakness on U.S. economy and earnings growth.
* U.S. data on Friday includes a preliminary reading of the University of Michigan’s consumer sentiment index, which is expected at 92.2 for March, improving from a final reading of 91.7 last month. The report is due at 10 a.m. ET (1400 GMT).
* U.S. stock index futures also got a boost from contracts set to expire on Friday.
* New York Fed President William Dudley, Boston Fed President Eric Rosengren and St. Louis Fed chief James Bullard, FOMC voting members, are scheduled to speak at separate events through the day.
* Shares of Adobe were up 5.8 percent at $95.19 premarket after the Photoshop maker raised its full-year profit and revenue forecasts above expectations.
* Tiffany was up 2.5 percent at $71.84 after results.
* Wynn Resorts rose 1.2 percent at $88.80 after Deutsche Bank raised its price target on the stock.
Futures snapshot at 6:42 a.m. ET:
* Dow e-minis were up 46 points, or 0.26 percent, with 18,102 contracts changing hands.
* S&P 500 e-minis were up 5.5 points, or 0.27 percent, with 162,691 contracts traded.
* Nasdaq 100 e-minis were up 9.25 points, or 0.21 percent, on volume of 15,854 contracts. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don Sebastian)