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Stocks gain, led by financial shares; drugmakers drop


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A currency trader talks on the phone near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Monday, Sept. 21, 2015. Asian stock markets were mostly lower Monday after concerns about global growth weighed on U.S. and European share prices. (AP Photo/Lee Jin-man)

NEW YORK (AP) -- U.S. stocks rose in early afternoon trading Monday as investors tried to look beyond the uncertain timing of a possible interest rate increase by the Federal Reserve. Drugmakers slumped on concern of new regulations for the industry following comments from Democratic presidential front-runner Hillary Rodham Clinton. Chipmaker Atmel jumped after accepting a bid from Britain's Dialog Semiconductor.

KEEPING SCORE: The Dow Jones industrial average climbed 75 points, or 0.4 percent, to 16,459 as of 1:53 p.m. Eastern time. The S&P 500 rose five points, or 0.3 percent, to 1,963 and the Nasdaq composite lost five points, or 0.1 percent, to 4,822.

FINANCIAL BOUNCEBACK: Stocks of major banks and financial companies climbed after sharp falls on...