Stocks Edged Higher after Economic Data

U.S. stocks edged higher in the early trading on Friday after economic data that wholesale prices fell unexpectedly and Consumer sentiment declined. The Dow Jones Industrial Average lately was up 44.21 points, or 0.27%, at 16,153.10.The S&P 500 gained 4.81 points, or 0.26%, at 1,851.15. The Nasdaq Composite was up 6.61 points, or 0.16%, at 4,267.03.

U.S. producer prices fell in February for the first time in three months in another sign that inflationary pressures remain well contained. The producer price index dipped 0.1% on a seasonally adjusted basis, the Labor Department said Friday. The price of goods rose 0.4% last month, but the cost of services fell 0.3%.

Consumer sentiment declined to an early March reading of 79.9 — the lowest reading since November — from a final February level of 81.6, according to Friday reports on a gauge from the University of Michigan and Thomson Reuters.

General Mills on Friday offered earnings guidance for the fiscal third quarter that missed the consensus estimate, citing lower volumes, among other issues. The packaged-foods maker said it expects adjusted per-share earnings of 61 cents to 62 cents for the period, below the 68 cents projected by analysts recently polled by Thomson Reuters.

Starbucks Corp. agreed to end its status as the exclusive super-premium coffee brand for Keurig Green Mountain Inc., in exchange for Keurig expanding its range of Starbucks products.