According to officials, U. S. markets cleared midday declines Monday, rising along with the euro, which gained strength at the end of the day.

It has been reported that European Central Bank President Jean-Claude Trichet during the weekend said that European economies were facing "severe tensions" amid concern over sovereign debt that has undermined investor confidence. Markets in Europe were mostly higher Monday, however, while Asian markets fell.

The Dow Jones industrial average was sharply lower at midday, but found some momentum late, erasing a 185-point deficit to close higher, up 0.05 percent, adding 5.67 points, to 10,625.83. It was also reported that the Standard & Poor's 500 index added 1.26 or 0.11 percent to 1,136.94. The Nasdaq composite index gained 7.38 or 0.31 percent to 2,354.23.

1,254 stocks advanced and 1,820 declined on a volume of 5.9 billion shares traded, on the New York Stock Exchange.

The benchmark 10-year Treasury note lost 10/32 to yield 3.49 percent.

From Friday's $1.2384, the euro closed higher, trading at $1.2396. The dollar, against the yen, was up slightly at 92.535 yen over Friday's 92.52 yen. (With inputs from Agencies)