Stocks rose on Monday as optimism that Europe was on track to stemming its debt crisis outweighed a report that showed the U.S. services sector grew at a slightly slower clip in November than expected.

The Dow Jones industrial average <.DJI> gained 147.81 points, or 1.23 percent, to 12,167.23. The Standard & Poor's 500 Index <.SPX> gained 18.14 points, or 1.46 percent, to 1,262.42. The Nasdaq Composite Index <.IXIC> gained 33.78 points, or 1.29 percent, to 2,660.71.