Overnight Update: The US stock market trimmed losses and eyed gains though markets lacked conviction to build on last week's rally

Overnight Update: The US stock market trimmed losses and eyed gains though markets lacked conviction to build on last week's rally. Treasury prices edged lower, sending yields higher ahead of a $70 billion flood of debt sales this week. The dollar fell against the yen as investors weighed weaker than expected US jobs data for January. Gold futures pushed higher. Oil futures struggled for direction, trading close to the $100 a barrel level as traders look toward this week's economic data and monetary policy for cues on the next direction for prices. The UK's FTSE 100 index headed for its highest close in more than two weeks as mining firms tracked metals prices higher. European stock markets headed for a fourth straight day of gains. London: BHP up 0.55% Rio down 0.73%. New York: BHP down 0.40% Rio down 1.42% Base metal prices traded mixed.