Stocks rose on Monday but closed off their session highs after news that Germany and other top-rated European nations could see their credit ratings cut.

The Dow Jones industrial average <.DJI> was up 79.24 points, or 0.66 percent, at 12,098.66, according to the latest available figures. The Standard & Poor's 500 Index <.SPX> was up 12.82 points, or 1.03 percent, at 1,257.10. The Nasdaq Composite Index <.IXIC> was up 28.83 points, or 1.10 percent, at 2,655.76.

(Reporting by Angela Moon, Editing by Kenneth Barry)