U.S. stocks closed up Monday, recovering some of last week’s losses as investors bought on dips and looked past the uncertainty of a possible U.S. Federal Reserve interest rate increase that could happen as early as next month. Pharmaceutical stocks plunged after Democratic presidential front-runner Hillary Clinton raised the prospect of possible price controls on future drugs.

The Dow Jones Industrial Average (INDEXDJX:.DJI) gained 125.61 points, or 0.77 percent, to 16,510. The Standard & Poor's 500 index (INDEXSP:.INX) rose 8.94 points, or 0.46 percent, to 1,967. The Nasdaq composite (INDEXNASDAQ:.IXIC) advanced 1.73 points, or 0.04 percent, to 4,829.

Nine out of the 10 sectors tracked on the S&P 500 closed up Monday, led by banks and technology firms. Health care stocks were pulled down by biotechnology companies.

Drugmakers Merck & Co. Inc. (NYSE:MRK), Pfizer Inc. (NYSE:PFE) and Johnson & Johnson (NYSE:JNJ) led declines on the Dow, while tech companies Apple Inc. (NASDAQ:AAPL), DuPont (NYSE:DD) and Microsoft Corp. (NASDAQ:MSFT) led the Dow gains.

Oil prices rebounded Monday with West Texas Intermediate crude, the benchmark for U.S. oil prices, gained 3.98 percent to $46.46 per barrel for October delivery on the New York Mercantile Exchange. On the London ICE Futures Exchange, Brent crude for November advanced 2.63 percent to $48.72 a barrel.

The U.S. dollar strengthened more than 1 percent against a basket of major currencies as traders anticipated an increase in U.S. interest rates this year, which would see foreign currency traders flocking to stable currencies.

U.S. bond prices fell as investors felt more bullish on stocks.  The benchmark 10-year bond yield gained 3.98 percent Monday. Yields increase when demand for safe-harbor bond purchasing declines. The price of gold, another safe-harbor investment, fell from a nearly three-week high as stocks gained and demand for the dollar increased.