U.S. stocks rose Monday as investors continued to digest comments on interest rates from top Federal Reserve officials last week.
The S&P 500 increased 0.44%, the Dow Jones Industrial Average gained 0.51%, and the Nasdaq added 0.23%.
At a speech in Jackson Hole, Wyo., on Friday, Federal Reserve Chair Janet Yellen said the "case for a rate hike has strengthened in recent months."
"I'm not surprised [Yellen] attempted to sound a little more hawkish,' Ian Winer, head of equity trading at Wedbush Securities, based in Los Angeles, told TheStreet TV.
Vice Chair Stanley Fischer, also on Friday, raised the prospect of a rates increase following the Fed's policy meeting next month.
The central bank hiked interest rates for the first time since the 2008 recession in December 2015.
Personal income in the U.S. rose 0.4% in July, matching estimates. Consumer spending gained 0.3%, also in-line with estimates.
Mylan (MYL) - Get Free Report dropped 0.9% after it said it would start a generic version of the life-saving EpiPen. The company sparked a wave of controversy after raising the price of the drug last week by 400%. The generic version is said to be priced 50% less than the branded line.
Swiss drug maker Roche (RHHBY) said Monday that the Food and Drug Administration passed an Emergency Use Authorization for its Zika rRT-PCR test, which the company said helps detect the virus. Zika, which made landfall in the Miami area recently, has been linked to birth defects.
Shares of capital equipment company KLA-Tencor (KLAC) - Get Free Reportrose 1.8% after Cowen analysts upgraded the stock to outperform from "market perform" with an $80 price target. The stock trades near $68.71.