US STOCKS-Wall St advances on strong industrial data but posts weekly losses

* Micron, Western Digital gain after Baird's bullish note

* Adobe rises after strong results

* S&P energy index up 1 percent as oil prices jump

* Dow up 0.3 pct, S&P up 0.2 pct, Nasdaq flat(Updates to close)

By April Joyner

NEW YORK, March 16 (Reuters) - The S&P 500 and the DowIndustrials rose on Friday, boosted by strong industrial outputnumbers, though all three of Wall Street's major indexes postedlosses for the week.

February industrial production jumped 1.1 percent, thelargest increase in four months.

Energy led the major sectors of the S&P 500 with a1.0 percent gain, as oil prices rose 1.7 percent.

"Today, there are not a lot of headlines out of Washington,so the focus is more on the economy," said Keith Lerner, chiefmarket strategist at SunTrust Advisory Services in Atlanta.

Friday's gains came at the end of a rocky week dominated byconcerns of a U.S. trade war with China and political turmoil,which began with the ouster of Secretary of State Rex Tillerson.

Stocks traded in a narrow range, Lerner said, as investorsunwound positions in futures and options contracts expiring onFriday, in a phenomenon known as "quadruple-witching."

The Nasdaq was barely changed at Friday's market close.

Investors were also looking ahead to next week, when theFederal Reserve is expected to raise benchmark U.S. interestrates. Rate-sensitive sectors, such as utilities and realestate, rose on Friday, but they could perform poorly if ratesincrease sharply.

"Many portfolio managers are starting to anticipate thateventually, maybe not at this meeting but in future months, thatthe Fed will become a little bit more hawkish in its behavior,"said Chad Morganlander, portfolio manager at Washington CrossingAdvisors in Florham Park, New Jersey.

The Dow Jones Industrial Average rose 72.85 points,or 0.29 percent, to end the week at 24,946.51, the S&P 500gained 4.68 points, or 0.17 percent, to 2,752.01 and theNasdaq Composite added 0.25 point, or 0 percent, to7,481.99.

For the week, the Dow fell 1.57 percent, the S&P lost 1.04percent, and the Nasdaq dropped 1.27 percent.

Walmart Inc gained 1.9 percent after the Universityof Michigan's preliminary reading of its consumer sentimentindex rose more than expected to 102.0.

Adobe Systems Inc was up 3.1 percent, hitting anall-time high during the session, after the Photoshop makertopped analysts' profit and revenue estimates for the seventhstraight quarter.

Micron Technology Inc rose 3.0 percent after Bairdanalysts raised their price target on the stock by $40 to $100.Western Digital Corp gained 4.1 percent, hitting athree-year high during the session, after Baird upgraded thestock's rating to "outperform."

Advancing issues outnumbered declining ones on the NYSE by a2.01-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.

The S&P 500 posted 25 new 52-week highs and three new lows;the Nasdaq Composite recorded 178 new highs and 50 new lows.

Volume on U.S. exchanges was 9.54 billion shares, comparedto the 7.2 billion average over the last 20 trading days.(Additional reporting by Sruthi Shankar in Bengaluru; Editingby Arun Koyyur and James Dalgleish)