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S&P 500, Nasdaq gain in choppy trading

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Gold prices soar as US dollar edges lower

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Oil prices gain 2%

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Benchmark 10-year Treasury yields rise

(Recasts headline, first paragraph, updates prices throughout

with US market open)

By Chibuike Oguh and Samuel Indyk

NEW YORK/LONDON, Nov 18 (Reuters) - Global shares edged

higher in choppy trading on Monday while the U.S. dollar fell

but still traded near one-year highs as markets pared

expectations of future interest-rate cuts by the Federal

Reserve.

President-elect Donald Trump has begun making appointments

to his incoming administration, filling health and defense roles

last week, but key positions for financial markets, Treasury

secretary and trade representative have yet to be filled.

The incoming Trump administration is expected to focus on

lowering taxes and raising tariffs, which could stoke inflation

and limit the Fed's ability to cut rates.

"It should be a quieter week as the recent relentless wave

of U.S. macro and political news flow in theory slows down with

the main story on this front being on potential political

appointments for the new Trump administration," Deutsche Bank

head of global economics and thematic research Jim Reid said.

The benchmark S&P 500 and Nasdaq Composite

were trading higher after paring losses, with consumer

discretionary and consumer staples stocks driving gains. The Dow

Jones Industrial Average was dragged down by materials

stocks.

The Dow fell 0.19% to 43,363.92, the S&P 500 rose 0.22% to

5,883.52 and the Nasdaq rose 0.48% to 18,769.90.

European stocks were on track to finish lower, weighed down

by real estate and utilities stocks. The STOXX 600

index was down 0.36%. MSCI's gauge of stocks across the globe

rose 1.39 points, or 0.17%, to 844.01.

Nvidia ( NVDA ) is scheduled to report third-quarter results

on Wednesday, with analysts expecting the

artificial-intelligence chip leader to record a jump in revenue.

Shares of Nvidia ( NVDA ) have nearly tripled this year, with its

hefty weighting in the S&P 500 partially helping to lift the

index to record highs.

U.S. Treasury yields edged up toward multi-month highs, with

the yield on benchmark U.S. 10-year notes adding 3.3

basis points to 4.459%.

The greenback strengthened 0.36% against the Japanese yen

to 154.9. The dollar index, which measures the

currency against a basket of six others, was down 0.23% to

106.48, trading just below its one-year peak of 107.07.

Oil prices rose following reports that output at Norway's

Johan Sverdrup oilfield has halted, adding to earlier gains

stemming from escalation in the Russia-Ukraine war.

Brent crude futures were up 2.59% to $72.88 a

barrel, while U.S. West Texas Intermediate crude futures

traded at $68.73 a barrel, up 2.55%.

Gold prices soared after six days of losses. Spot gold

rose 1.88% to $2,609.46 an ounce. U.S. gold futures rose

1.47% to $2,603.40 an ounce.