REFILE-US STOCKS-Futures rise as oil pulls back, dollar firms

(Corrects to remove paragraphs 10 and 11, which duplicate earlier material)

By Kristina Cooke

NEW YORK, May 12 (Reuters) -U.S. stock index futures rose on Monday, in line with global equities, as the dollar strengthened and oil pulled back from record highs.

Oil's record-setting run has been fueling concerns about inflation and high gasoline prices that could cut into consumers' disposable income. The dollar neared a two-month high against a basket of currencies.

European stocks rose as HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz), Europe's biggest bank, posted a rise in quarterly profit that helped financial stocks in the region. Growth in Asia helped counter a $3.2 billion bad debt charge, the bank said.

"The dollar's firming up a little bit. That's a signal that traders are willing to make a bit of a bet that things are getting better, not worse. That's also putting pressure on the price of oil," said Arthur Hogan, chief market analyst at Jefferies & Co.

"The HSBC news should be positive, not only for financials but for all multinationals."

U.S. stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) reported a massive loss.

S&P 500 futures SPc1 rose 3.4 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.