Stocks pared gains in late afternoon trade on Monday after a media report that ratings agency S&P might downgrade Germany and five other AAA-rated euro zone member nations.

The Dow Jones industrial average <.DJI> was up 74.28 points, or 0.62 percent, at 12,093.70. The Standard & Poor's 500 Index <.SPX> was up 12.38 points, or 0.99 percent, at 1,256.66. The Nasdaq Composite Index <.IXIC> was up 28.06 points, or 1.07 percent, at 2,654.99.

(Reporting by Angela Moon, Editing by Chizu Nomiyama)