NEW YORK (CNNMoney) -- U.S. stocks recovered Monday afternoon from modest losses earlier in the day, as investors considered the implications of leadership changes in France and Greece.
The Dow Jones industrial average (INDU) finished down 30 points, or 0.2%, while the S&P 500 (SPX) added less than half of a point and the Nasdaq (COMP) composite rose 1 point, or 0.1%. All three indexes started the day in the red, falling as much as 0.5%.
The swing from negative to positive territory mirrored the move inEuropean markets. Stocks in France and Germany initially tumbled about 2% Monday, but bounced back as investors continued to digest the results.
"The good news is that markets are reacting in a very mature fashion," Pimco Chief Executive Mohamed El-Erian told CNN International Monday. "The bad news is we have a lot of political uncertainty ahead of us still."
"My belief is that this change in leadership won't be as terrible as the market initially thought," said Donald Selkin, chief market strategist at National Securities. "I don't see how austerity is the answer for countries like Italy, Spain and Greece. To get them out of the mess they're in, they need some economic stimulus."
The dollar was higher against the euro and the Japanese yen, but was slightly lower versus the British pound.
Oil for June delivery continued to drop below the $100 a barrel mark it reached on Friday, falling 55 cents to settle at $97.94 a barrel.
Gold futures for June delivery fell $6.10 to settle at 1,639.10 an ounce.
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