Stocks edge higher after spending data

US stocks opened higher in early trade on Monday, with the S&P 500 Index gaining 2.49 points, or 0.19 percent, to trade at 1,315.76. The Dow Jones Industrial Average is up 18.31 points, or 0.15 percent, to trade at 12,238.90. The Nasdaq Composite Index advanced 0.28 percent.

Consumer spending in the United States rose 0.7 percent in February, and personal income grew 0.3 percent, beating expectations. Economists expected spending to climb by 0.6 percent and incomes by 0.4 percent for the month.

The euro declined 0.23 percent to 1.4055 against the dollar and the greenback rose 0.46 percent to 81.7220 against the yen. Crude oil futures fell 1.66 percent to $103.65 a barrel and gold futures declined 0.98 percent.

On the corporate front, shares of Eastman Kodak Co. (NYSE: EK) soared 14.1 percent to $3.88 in early trade. Last week, the U.S. International Trade Commission said it will review a patent decision that ruled Apple Inc. and Research In Motion didn't infringe Kodak's digital-camera patents.

U.S. stocks gained for the third consecutive day on Friday as investors shook off global fears and focused instead on upbeat earnings.

European stock markets were trading mixed on Monday as renewed concerns over Japan’s nuclear crisis and turmoil in the Middle East weighed on the sentiment.

DAX30 edged down 1.29 points or 0.02 percent, CAC 40 rose 7.66 points or 0.19 percent and the FTSE 100 gained 10.86 points or 0.18 percent.