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Power Play: Large-cap domestic stocks

Medical monitor
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The Dow posts its first up day in four sessions as the market shrugs off rate-hike fears.

Bruce McCain, Chief Investment Strategist at Key Private Bank, tells CNBC's "Power Lunch" on Friday investors need to see that the economy and markets can survive another modest interest rate hike.

"Quality, stronger-growth areas/investments should become more attractive to investors relative to areas/investments with a more-cyclical profile," McCain said.

Read MoreLow rates support the price of few stocks: Strategist

His investment strategy now is putting money in large-cap domestic stocks and one of his top picks is Danaher.

"This quality, solid growth company should be attractive in a slow-growth environment," McCain said.

He pointed out that uncertainty about Danaher's spin-off has worried investors, but McCain does not believe it will depress operations.

Danaher is up one percent during trading.