Stocks rose on Monday, with the S&P 500 inching above its 200-day moving average, as optimism grew that an upcoming European Union summit would resolve the euro zone debt crisis.

The Dow Jones industrial average <.DJI> gained 165.03 points, or 1.37 percent, to 12,184.45. The Standard & Poor's 500 Index <.SPX> gained 21.76 points, or 1.75 percent, to 1,266.04. The Nasdaq Composite Index <.IXIC> gained 44.07 points, or 1.68 percent, to 2,671.00.