LIVE MARKETS-US stocks edge up in early trade but commodity weakness continues

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US STOCKS EDGE UP IN EARLY TRADE BUT COMMODITY WEAKNESS CONTINUES

U.S. stocks are modestly higher in the early stages of trading on Monday, as investors assess the ramifications of a sell-off in commodities from the prior week.

Healthcare .SPXHC is the leading S&P 500 .SPX sector gainer. Energy .SPNY is the worst-performing S&P 500 .SPX group as crude prices CLc1, LCOc1 slump after U.S. President Donald Trump said Iran was "seriously talking" with Washington.

Meanwhile, goldXAU= and silver XAG= continued to extend declines that began last week, after increased CME margin requirements added to the selling pressure following last week's sell-off sparked by Kevin Warsh's nomination as the incoming Federal Reserve chair.

Trump last week tapped Warsh to lead the Fed, and his nomination still has to be confirmed by the Senate as investors attempt to parse how his previous hawkish views will mesh with Trump's preference for much lower interest rates.

On the economic data front, the final January S&P Global manufacturing PMI came in at 52.4 vs the prior 51.9. The January ISM manufacturing PMI was 52.6 vs. a 48.5 estimate and a 47.9 prior read.

(Chuck Mikolajczak)

EARLIER ON LIVE MARKETS:

DIVIDENDS BOLT OUT OF THE GATE, WHILE GROWTH IS THE GLUE - CLICK HERE

DRIVERS BEHIND GOLD RALLY STILL POWERFUL DESPITE PULLBACK - BARCLAYS CLICK HERE

WHY A FED UNDER WARSH MAY BE TOO HAWKISH CLICK HERE

EUROPEAN SOFTWARE: WHEN FEAR CLOUDS FUNDAMENTALS CLICK HERE

DEFENSIVES HELP STOXX LIMIT THE DAMAGE CLICK HERE

BEFORE THE BELL: FUTURES FALL AS METAL ROUT HITS MINERS CLICK HERE

METALS GET A LOT LESS PRECIOUS AS POSITIONS SQUEEZED CLICK HERE