U.S. stocks closed off session lows Monday as traders anticipated an interest rate hike on Wednesday.
The S&P 500 closed nearly 1 point higher in its third straight day of gains. Materials stocks led advancers, while health care fell 0.15 percent as the worst decliner.
Art Hogan, chief market strategist at Wunderlich Securities, attributed the decline in health care stocks to "uncertainty over 'repeal and replace.'" The Congressional Budget Office is expected to reveal, as early as Monday, an estimate of how many people would have health insurance coverage under a Republican proposal.
The Nasdaq composite closed slightly higher, helped by gains in NVIDIA, Sirius XM Holdings and Facebook. The Dow Jones industrial average closed about 21 points lower with IBM having the greatest negative impact.
Intel also contributed to the Dow's losses. Shares of the chipmaker fell nearly 2.1 percent after announcing it will buy Israeli driverless technology firm Mobileye for $15.3 billion. Mobileye shares leaped 28.2 percent.
Energy stocks held mostly steady despite continued declines in oil prices. Crude hit an intraday low of $47.90 a barrel, its lowest since Nov. 30, and WTI futures for April delivery settled down 9 cents, or 0.19 percent, at $48.40 a barrel.