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Market Snapshot: Stocks rebound as Wall Street deals with rate-hike prospect

The Dow industrials and S&P 500 index on Monday rebounded from losses in the previous session as Wall Street acclimated to the mounting likelihood of higher benchmark interest rates in 2016. The prospect of a rate hike delivered a fillip to bank shares.

The Dow Jones Industrial Average DJIA, +0.58% gained 111 points, or 0.6%, at 18,506, led by a rise financial shares, which tend to benefit in a rising interest-rate environment. Shares of American Express Co., Travelers Cos. Inc. TRV, +1.14% and J.P. Morgan Chase & Co.JPM, +1.10% were among the best performers among blue chips.

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