US STOCKS-Wall St turns higher as momentum shares rebound

viernes 9 de mayo de 2014 13:37 GYT

* Apple reportedly close to deal for Beats Electronics

* Momentum shares like Gilead, Netflix rise

* Dow up 0.2 pct, S&P up 0.1 pct, Nasdaq up 0.3 pct (Updates to afternoon)

By Caroline Valetkevitch

NEW YORK, May 9 (Reuters) - U.S. stocks edged higher on Friday, rebounding from earlier losses along with high-growth momentum shares, while Merck and other healthcare names gained ground.

Merck shares rose 1.1 percent to $55.39, a day after U.S. health regulators approved a blood clot preventer developed by Merck for use by patients who have had a heart attack or who suffer from blockages in the arteries of the legs. The S&P healthcare index was up 0.6 percent.

Shares of Gilead were up 1.1 percent at $79.62 while shares of Priceline were up 1.6 percent at $1,126.86. Netflix Inc shares rose 0.9 percent to $324.56 after it increased the price of its most popular video streaming plan by $1 a month.

"We've seen days of investors trying to see if there's a bottom in these Nasdaq stocks," said Rick Meckler, president of hedge fund LibertyView Capital Management in Jersey City, New Jersey.

"There's some fear among investors that their steep fall-offs are a precursor of something to the broader market, and when they rebound, even temporarily, it seems to give confidence to the overall market. But this has been going on now for a lot of couple of weeks."   Continuación...