LIVE MARKETS-US stocks ease as investors weigh new Fed chair pick, latest earnings

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US STOCKS EASE AS INVESTORS WEIGH NEW FED CHAIR PICK, LATEST EARNINGS
U.S. stocks are slightly lower in choppy trading early Friday as investors are digesting news that President Donald Trump nominated former Federal Reserve Governor Kevin Warsh to head the U.S. central bank when Jerome Powell's term ends in May and also weighing the latest earnings reports from top companies including Apple.

Selling is broad-based, with nearly all of the 11 S&P 500 .SPX sectors lower.

Apple AAPL.O shares are nearly flat early. The company late Thursday forecast higher-than-expected revenue growth for the March quarter.

Shares of Exxon Mobil XOM.N are also about 1% lower even as the company beat Wall Street targets in its fourth-quarter earnings reported on Friday.

Trump has been pushing the Fed to lower rates further. Warsh is seen by some market participants as someone who would support lower rates but who would stop short of the more aggressive easing likely to come from other potential nominees.
Here is the early market snapshot:

(Caroline Valetkevitch)

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