The Dow briefly rose more than 2 percent in afternoon trading on Monday as optimism about efforts to contain the euro zone crisis grew.

The Dow Jones industrial average <.DJI> was up 198.86 points, or 1.85 percent, at 10,970.34, after rising more than 2 percent. The Standard & Poor's 500 Index <.SPX> was up 15.36 points, or 1.35 percent, at 1,151.79. The Nasdaq Composite Index <.IXIC> was up 4.63 points, or 0.19 percent, at 2,487.86.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)