Markets start week with gains

NEW YORK, Jan. 31 (UPI) -- New York markets edged higher Monday after the Commerce Department said incomes and personal spending rose in December.

Incomes were up 0.4 percent and consumer spending increased 0.7 percent, the department said.

Chaos in Egypt initially rattled markets Friday, presenting an opening for bargain hunting Monday. By close of trading, the Dow Jones industrial average added 68.23 points, 0.58 percent, to 11,891.93. The Standard & Poor's 500 index gained 9.78 or 0.77 percent to 1,286.12. The Nasdaq composite index rose 13.19 or 0.49 percent to 2,700.08.

On the New York Stock Exchange, 2,054 stocks advanced and 915 declined on a volume of 5.7 billion shares traded.

The benchmark 10-year treasury note lost 12/32 to yield 3.376 percent.

The euro rose to $1.3693 from Friday's $1.3609. Against the yen, the dollar fell to 82.02 yen from Friday's 82.13 yen.

In Tokyo, the Nikkei 225 index lost 1.18 percent, 122.42, to 10,237.92.

In London, the FTSE 100 index lost 0.31 percent, 18.43, to 5,862.94.