Industrial production in February rose 0.7 percent, which was a tad lower than the predicted 0.8 percent increase, but much better than the 2 percent decline in January. Part of the increase was due to the colder weather that boosted production in utility plants. Capacity utilization, the percentage of mines, factories and utilities in full operation, eked up to 81.2 from 80.9 - slightly below the forecast for an increase to 81.4.

The University of Michigan's preliminary consumer sentiment report for March came in at 86.7, duplicating the final reading in February. Analysts expected it to tick up to 88.5 percent.

Equities wind up a great week

The three major stock indexes closed in positive territory for the day, for the week, and they are off to a positive start in 2006. At Friday's close the Dow Jones industrials were up 5 percent on the year, the Nasdaq composite had gained 4.3 percent and the Standard & Poor's 500 index had added 4.6 percent.

Trading was volatile because it was a quadruple witching day. The markets were boosted by the constant buzz that the Fed would halt its rate hikes after the March 28 meeting. And part of the optimism on the street this week stemmed from the perfect mix of economic growth and low inflation - a blend that might not warrant further Fed action. The price of oil also edged back down, falling 81 cents to $62.70 a barrel.

As of 4 p.m. EST:

The Dow Jones industrial index closed up 26.41 points (+0.23 percent) to 11,279.65; the Nasdaq composite gained 6.92 points (+0.30 percent) to 2,306.48, and the Standard & Poor's 500 index gained 1.92points (+0.15 percent) to 1,307.25.

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