Stocks Edge Higher, Crude Prices Jump on Supply Concerns Over Mideast, Libya

GLOBAL MARKET - NEW YORK/LONDON. World stock markets edged higher on Monday buoyed by optimism that U.S. interest rates are likely to be lowered soon even as oil prices jumped amid increased tensions in the Middle East.

The benchmark S&P 500 index and the Dow traded higher, European shares climbed, and trading was subdued with the London market closed for a UK public holiday. Japan's blue-chip Nikkei stock index closed down almost 0.7% as the yen firmed.