What happens next Where's my refund? Best CD rates this month Shop and save 🤑
MONEY
Mattel

Stocks end up, Dow flat after Greek vote

Kim Hjelmgaard
USA TODAY
A trader works on the floor of the New York Stock Exchange.

Stocks ended higher Monday, with the Dow basically flat, as investors grappled with the consequences of a victory for Greece's anti-austerity Syriza party in general elections.

Both the S&P 500 and the Nasdaq composite gained 0.3%. The Dow Jones industrial average climbed a fractional 0.03% -- a little more than 6 points.

Syriza opposes Greece's international bailout plan, raising new concerns about the the stability of the European common currency block.

Syriza has vowed to end Greece's painful austerity policies and party leader Alexis Tsipras promised to end "humiliation and pain" that Greece has endured since a 2010 international bailout imposed harsh spending cuts.

European stocks and the euro initially sank after news of the Greek election but quickly came back and were trading mostly higher.

European stock markets initially sank after news of the Syriza victory but quickly came back and were trading mostly higher.

Germany's DAX gained 1.4% to 10,798.33 and France's CAC 40 added 0.7% to 4675.13. Britain's FTSE 100 rose 0.3% to 6852.40. The euro bounced back, rising 0.4% to $1.1246 after trading at its lowest since 2003.

Traders also had their eye on the latest batch of earnings and corporate mergers.

• Shares of Mattel (MAT) dropped 5% on news that CEO Bryan Stockton resigned after about three years of leading the struggling toymaker. Mattel also reported preliminary fourth-quarter results that fell short of Wall Street expectations.

• Packaging company MeadWestvaco announced it is merging with Rock-Tenn Co. to create a $16 billion company. MeadWestvaco (MWV) surged 14% and Rock-Tenn (RKT) jumped 6.1%.

Asian markets were mixed as Japan's Nikkei 225 index fell 0.3% and Hong Kong's Hang Seng index rose 0.2%.

Wall Street snapped a four-day winning streak on Friday but still saw weekly gains. The Dow closed down 141.38 points, or 0.8%, to 17,672.60. The Standard & Poor's 500 index fell 11.33, or 0.6%, to 2051.82. The tech-heavy Nasdaq composite index bucked the trend and climbed 0.2% to 4757.88.

Contributing: The Associated Press

Featured Weekly Ad