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Futures up: Dow 0.29%, S&P 500 0.33%, Nasdaq 0.42%

Jan 17 (Reuters) - U.S. stock index futures edged up on

Friday, with the S&P 500 and the Dow looking set to log their

biggest weekly advances since November, while investors awaited

a wave of policy changes under the incoming Trump

administration.

At 5:33 a.m. ET, Dow E-minis were up 127 points, or

0.29%, S&P 500 E-minis were up 19.75 points, or 0.33%,

and Nasdaq 100 E-minis were up 90 points, or 0.42%.

Better-than-expected earnings from major banks and signs

that underlying inflation was cooling have prompted risk taking

on Wall Street this week, putting the benchmark S&P 500

and the blue-chip Dow on track to log their steepest

weekly rises since the U.S. election week.

The S&P 500 banking index and regional banks

have outperformed the main indexes this week, logging advances

of about 5.8% and 6.4%, respectively.

Quarterly reports from Truist Financial ( TFC ), SLB

, Fastneal and State Street are on tap

before markets open.

Of the 28 companies in the S&P 500 that have reported

fourth-quarter earnings as of Wednesday, 82.1% have surpassed

estimates, according to data compiled by LSEG.

Also aiding risk sentiment was a dip in yields on

longer-dated bonds that had touched more than 10-month highs

earlier in the week. Yield on the benchmark 10-year note

is now at a more than one-week low at 4.6%.

President-elect Donald Trump is expected to take over the

White House on Monday and investors will be on edge for any

insights into his plans on tax cuts, tariffs, loose regulations

and immigration at his inauguration speech, that analysts widely

expect could boost the economy.

The S&P 500 has gained nearly 3% to date since Election Day.

However, concerns prevail that his plans on tariffs and

immigration could spark a trade war and fresh price pressures at

a time when the economy is already strong, which could force the

Federal Reserve to stave off further monetary policy easing.

According to data compiled by LSEG, traders are expecting

the central bank to leave interest rates on hold at its meeting

later this month and see the first cut coming in June. They had

all but priced out any rate cuts for 2025 earlier in the week.

Before markets open, investors will assess data on building

permits, housing starts and industrial production for the month

of December, that could help gauge the health of the world's

largest economy.

Eyes are also on developments around the ceasefire deal to

the Middle East conflict, with the Israeli cabinet due to give

final approval, following concerns the accord may be delayed.

Among others, Salesforce ( CRM ) rose 1.9% after brokerage

TD Cowen upgraded the software provider to "buy" from "hold".

J.B. Hunt Transport Services lost 9.8% after the

trucking firm missed Street estimates for fourth-quarter profit,

as high expenses and a lower truck count weighed on revenue.