An investor is reflected in a window as he looks at boards displaying stock prices and an advertisement for zero percent interest rate for purchasing a car at the Australian Securities Exchange in central Sydney, Australia
By Rodrigo Campos
NEW YORK (Reuters) - Crude oil prices fell on Friday ahead of a weekend meeting that could yield an output freeze by major producers, while the U.S. dollar and major stock markets edged lower but were set to post weekly gains.
Indexes were little changed on Wall Street for a second day, with the S&P 500 set to close its seventh positive week in the last nine.
The U.S. dollar index fell as traders cashed in after three days of gains and was weighed further by data showing U.S. industrial production fell more than expected in March, the latest indication that economic growth braked sharply in the first quarter.
Both the MSCI index of stocks across the globe <.MIWD00000PUS> and the S&P 500 (.SPX) hit their highest points of the year this week and emerging market stocks (.MSCIEF) racked up their best weekly gain in a month. European shares (.FTEU3) fell 0.4 percent but were on track to post their largest weekly gain in two months.
The Dow Jones industrial average (.DJI) fell 5.51 points, or 0.03 percent, to 17,920.92, the S&P 500 (.SPX) lost 1.06 points, or 0.05 percent, to 2,081.72 and the Nasdaq Composite (.IXIC) added 1.89 points, or 0.04 percent, to 4,947.77.
Japan's Nikkei (.N225), one of the biggest losers of 2016 so far, closed 6.5 percent higher for the week following the drop back in the yen.
China's economy grew 6.7 percent in the first quarter from a year earlier, meeting expectations and providing additional evidence that a slowdown in the world's second largest economy may be bottoming out.
The dollar index (.DXY) slipped 0.2 percent after the U.S. currency gained more than 1 percent against both the yen (JPY=) and the euro (EUR=) this week.
Speculation was still widespread about whether top oil producers led by Saudi Arabia and Russia will be able to reach a deal in Qatar on Sunday to curb output.
"Momentum is building behind an agreement that likely excludes Iran (and potentially Libya). While there will likely be little effect on the physical market an agreement would represent an important psychological shift in setting oil prices," investment bank Jefferies said on Friday.
Brent crude futures (LCOc1) were down 3 percent at $42.54 and U.S. crude futures (CLc1) were down 3.1 percent, trading at $40.22.
Safe-haven gold (XAU=) was on course for a weekly loss, the first in three.
U.S. Treasury yields fell after the weaker-than-expected reading on industrial output.
Benchmark 10-year Treasury note
(Reporting by Rodrigo Campos; Editing by Nick Zieminski)