Stocks closed modestly higher Monday after a reported threat to the credit ratings of Germany and other major European countries deflated a morning rally. The Dow Jones industrial average closed up 78 points, giving back much of a 167-point gain from earlier.
The Dow Jones industrial average rose 78.41 points, or 0.7 percent, to close at 12,097.83.
The Standard & Poor's 500 index closed up 12.80 points, or 1 percent, at 1,257.08.
The Nasdaq composite index closed up 28.83 points, or 1.1 percent, at 2,655.76.
For the year to date:
The Dow is up 520.32 points, or 4.5 percent.
The S&P is down 0.56 point.
The Nasdaq composite average is up 2.89 points, or 0.1 percent.