NEW YORK: Technology stocks rose on Friday as investors stepped cautiously back into the market following declines earlier this week. But Merck & Co Inc kept blue chips close to unchanged after the giant drug company scrapped its second experimental medicine in 10 days.
Weve seen a classic rotation out of healthcare, said Owen Fitzpatrick, head of the US equity group at Deutsche Bank Private Wealth Management. Investors are returning to the technology sector, which they regard as having the best outlook for growth, he said.