US STOCKS-Wall Street advances on earnings momentum
* Morgan Stanley touches 7-year high
* Gold touches 5-year low; Copper, oil prices fall
* IBM results due after the close
* Indexes up: Dow 0.2 pct, S&P 0.22 pct, Nasdaq 0.36 pct (Updates to late afternoon, changes byline)
By Chuck Mikolajczak
July 20 (Reuters) - Wall Street advanced modestly on Monday, with the S&P on track for its seventh gain in eight sessions, as a better-than-expected start to corporate earnings season boosted investor confidence and overshadowed a drop in commodities.
The tech-heavy Nasdaq composite also continued its recent momentum, adding to its gains from last week and touching a record for the third straight day, as investor focus shifts to earnings from concerns surrounding Greece and China.
Gold prices plunged to their lowest in more than five years while copper prices hit their lowest in nearly two weeks. Oil prices fell too on signs of a growing glut in refined products, to pull the S&P energy index down 1 percent.
The dollar index rose 0.13 percent to $97.99. It had earlier hit a three-month high due to expectations of a Federal Reserve rate hike this year. Continuación...