Wall Street pares gains, Nasdaq turns negative


U.S. stocks pared gains, with the Nasdaq turning negative on Monday as Federal Reserve Chairman Ben Bernanke delivered a broad defense of the central bank's controversial bond-buying stimulus plan.

The Dow Jones industrial average <.DJI> gained 99.22 points, or 0.74 percent, to 13,536.35. The Standard & Poor's 500 Index <.SPX> added 5.57 points, or 0.39 percent, to 1,446.24. The Nasdaq Composite Index <.IXIC> dropped 3.46 points, or 0.11 percent, to 3,112.77.

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(Reporting by Angela Moon; Editing by Kenneth Barry)