Pursuits
U.S. Stocks Rise After Selloff Amid Reassuring Comments From Fed
- Stocks briefly erased gains as drug companies retreated
- Fed officials still see solid case for raising rates in 2015
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U.S. stocks advanced, following a two-day selloff, as investors took an optimistic view on domestic growth amid reassuring comments from Federal Reserve policy makers.
Microsoft Corp. and Apple Inc. increased at least 1.4 percent to pace gains in technology shares. E*Trade Financial Corp. and Allstate Corp. rose more than 1.7 percent as financial companies climbed. Energy shares rose as oil prices rebounded. Merck & Co. lost 2.2 percent, and the Nasdaq Biotechnology Index slumped 4.4 percent after Democratic presidential candidate Hillary Clinton tweeted that she that she would release a plan to combat the high cost of prescription drugs.