(As of 7:30 am PST)
Stocks opened Friday's session lower in a turbulent week that looks set to finish with weekly losses for the major US benchmarks. A weaker-than-expected report on producer prices caught investors by surprise putting pressure on stocks from the start. A report out of the University of Michigan on consumer sentiment also fell below consensus, with sentiment falling from 95.4 in February to 91.2 in March, the worst reading since November. Falling oil prices are also adding to the negative sentiment early. The price of crude oil was off 2.5% to $45.80 per barrel at this writing. According to a report from the International Energy Agency, monthly oil production in the US increased by 115,000 barrels coupled with a ballooning inventory which may cause oil prices to drift lower. International markets are mixed to wrap up this volatile week. Interest rates are flat while the US dollar continues its historic climb. Expect volatility to continue throughout today's session and in to next week as the market seeks to find price equilibrium in light of the current economic conditions.
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