Stocks Opened Higher, Oil Edged Back

U.S. stocks opened modestly higher on Friday, putting stocks on track to post a weekly advance, as investors parse optimistic headlines on U.S.-China trade developments as well as weaker-than-expected data on the U.S. economy. The Dow Jones Industrial Average lately rose 38.47 points, or 0.15%, to 25,748.41. The S&P 500 added 10.52 points, or 0.37%, to 2,819.00. The Nasdaq Composite gained 48.81 points, or 0.64%, to 7,679.72.

U.S. crude-oil futures on Friday headed slight lower, amid growing signs of tightening global supplies. April West Texas Intermediate crude shed 28 cents, or 0.5%, to $58.33 a barrel. May Brent crude lost 82 cents, or 0.8%, to $66.68 a barrel.

U.S. manufacturing output fell for a second straight month in February, offering further evidence of a sharp slowdown in economic growth early in the first quarter. The Federal Reserve said on Friday manufacturing production dropped 0.4 percent last month, held down by declines in the output of motor vehicles, machinery and furniture.