(Changes time in paragraph seven to "9:15 a.m. ET (1315 GMT)" from "8:00 a.m. ET (1200 GMT)")
* Futures down: Dow 35 pts, S&P 4.25 pts, Nasdaq 1.50 pts
By Abhiram Nandakumar
Oct 16 (Reuters) - U.S. stock index futures edged lower on Friday as investors digested results from industrial heavyweights General Electric and Honeywell.
* GE's shares fell 1.2 percent to $27.66, while Honeywell was unchanged at $98.50 in premarket trading.
* Global stocks advanced, taking a cue from Thursday's rally in U.S. stocks, which rose to their highest in eight weeks on strong results from Citigroup and positive data.
* The dollar rose against a basket of currencies after Thursday's data rekindled hopes that the Federal Reserve would raise interest rates this year.
* The Fed, which kept rates at near-zero levels at its September meeting, is waiting for signs of stabilizing inflation and sustained economic recovery before it pulls the trigger.
* S&P 500 companies are expected to report a 4 percent fall in third-quarter profit, the biggest decline in six years, according to Thomson Reuters data.
* U.S. industrial production in September, due at 9:15 a.m. ET (1315 GMT), is expected to have shrunk 0.2 percent, after falling 0.4 percent in August.
* The University of Michigan's preliminary index on consumer sentiment for October, which is forecast to rise to 89 from a final reading of 87.2 in September, is due at 10:00 a.m.
* Youku Tudou jumped 22.2 percent to $24.96 after Alibaba offered to buy the video-streaming company for $26.60 per American Depository Share. Alibaba was up 1 percent at $72.50.
* Wynn Resorts fell 9.6 percent to $66.70, a day after the casino operator reported third-quarter results below expectations.
* Zafgen slumped 28.4 percent to $15.05 after the company said its obesity drug trial been put on partial clinical hold by the U.S. FDA.
Futures snapshot at 7:10 a.m. ET:
* S&P 500 e-minis were down 4.25 points, or 0.21 percent, with 121,178 contracts traded.
* Nasdaq 100 e-minis were down 1.5 points, or 0.03 percent, on volume of 22,074 contracts.
* Dow e-minis were down 35 points, or 0.21 percent, with 15,940 contracts changing hands. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Saumyadeb Chakrabarty)