By Abhiram Nandakumar (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 <.DXY> 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. (Changes time in paragraph seven to "9:15 a.m. ET (1315 GMT)" from "8:00 a.m. ET (1200 GMT)")

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