* Crude rises above $80 per barrel
* U.S. dollar slips as China rate impact wanes
* Futures up: Dow 26 pts; S&P 4.6 pts; Nasdaq 9.75 pts
NEW YORK, Oct 20 (Reuters) - U.S. stock index futures rose on Wednesday, as dissipating fears over an interest rate hike in China weighed down the U.S. dollar and lifted global equities.
* A steep sell-off in stocks on Tuesday, triggered by fears banks might be on the hook for billions of dollars in soured mortgage bonds and the China tightening, also provided a floor to futures.
* Several U.S. Federal Reserve officials indicated on Tuesday the central bank will soon offer further monetary stimulus to the economy. One policymaker said $100 billion per month in bond buys may be appropriate.
* Expectations the Fed will print more money have been pivotal in a stocks rally that extended for almost two months.
* S&P 500 futures rose 4.6 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 26 points, and Nasdaq 100 futures added 9.75 points.
* A busy earnings week continues Wednesday with Boeing Co, Genzyme Corp, Morgan Stanley, Wells Fargo & Co and Xilinx Inc due to report.
* General Electric Co, Honeywell International Inc and United Technologies Corp are among the suitors for BAE Systems Plc's aerospace unit that could fetch up to $2 billion, sources said.
* Yahoo Inc's sales forecast disappointed Wall Street late Tuesday, underscoring how the one-time Internet leader was struggling to keep up with Google Inc and Facebook. Yahoo was little changed in light premarket trading..
* Among economic reports coming later is the Fed's Beige Book, a summary of economic conditions gathered from its 12 regional banks, expected at 2 p.m. EDT (1800 GMT).
* The U.S. dollar fell against a basket of currencies for the first time in four sessions as the appetite for higher-yielding currencies stabilized after being jolted by China's rate hike. The index was off 0.5 percent.
* Light crude futures rose nearly 1 percent to above $80 a barrel, supported by signs that U.S. fuel stockpiles are falling and as investors decided the China rate hike would do little to dampen its oil use.