Posted on 01/19/2010 8:05:53 AM PST by Slyscribe
UnitedHealth (UNH) shot up nearly 5% in early morning trading, as HMOs and other medical stocks were among the market leaders. Wall Street seems to be pricing in a likely victory by Republican Scott Brown in today’s Massachusetts Senate election.
A Brown win could upend Democrats’ sweeping health care plans that would affect the entire medical industry. Drug giants Pfizer (PFE) and Merck (MRK) rose roughly 2%. Medical device maker Intuitive Surgical (ISRG) was up 2.5%. (However, hospital stocks are among the worst performers today).
More generally, a Brown victory may create more gridlock on Capitol Hill, which markets often like.
(Excerpt) Read more at blogs.investors.com ...
Was Jim Cramer right?
The GOP is going to be back in the high cotton again.
The less Congress legislates, the better.
I hope so. I made a big move based on this election and Brown winning!
I hope so. I made a big move based on this election and Brown winning!
Hospital stocks, conversely are getting hit hard, since they were going to win from the government program, because under the current system they eat a lot of expenses caring for the uninsured.
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