US stocks edge higher

Stocks ended a volatile session moderately higher today as investors eyed soaring oil prices and the pending retirement of embattled Morgan Stanley CEO Phil Purcell ahead of key economic reports due later this week.

With inflation and retail sales figures expected Tuesday and Wednesday, investors were wary of making big commitments, and pricey oil capped the session’s advance. The expectation of good economic news lent a definite upside bias to stocks, however, and Wall Street’s favourable reaction to Morgan Stanley’s announcement contributed to the market’s good humour.