Stocks trimmed some of their gains in early afternoon trading on Monday as Moody's downgraded Greece.

The Dow Jones industrial average <.DJI> was up 56.30 points, or 0.55 percent, at 10,267.37. The Standard & Poor's 500 Index <.SPX> was up 7.07 points, or 0.65 percent, at 1,098.67. The Nasdaq Composite Index <.IXIC> was up 23.13 points, or 1.03 percent, at 2,266.73.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)