Health care stocks rise

[THE MATRIX]

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NEW YORK (CNNMoney.com) -- Stocks gained Monday, with health care shares leading the way as Congressional approval of a sweeping reform bill removed the uncertainty that has surrounded its passage for months.

The Dow Jones industrial average (INDU) rose 44 points, or 0.4%, ending at a fresh 18-month high. The S&P 500 index (SPX) gained 6 points, or 0.5%, and closed just shy of the 18-month high hit last week. The Nasdaq composite (COMP) gained 21 points, or 0.9%, closing at a more than 18-month high.

Stocks fell in the first minutes of the session on renewed questions about Greece's ability to repay its debt. But the market soon erased losses and turned higher as investors began snapping up biotech, health care provider and hospital sector stocks in the wake of the House of Representatives' approval of the health care bill.

[Caesar]

First off I think healthcare insurence providers are going to die a slow death, and I think most of the other sectors such as biotech have been so oversold some are selling at 10x earnings so I think you could see much more upsode to health related stocks.

I think we should thank Greece for this rally. the more trouble they have, the more the Euro falls and the dollar rises. this means the Fed isn't under much pressure to raise rates, thats why you see these rallies.

[danielost]

i thought the new universal health care was supposed to take the profit out of it.

[Caesar]

i thought the new universal health care was supposed to take the profit out of it.

So many of these companies have both parties owned. like Howard Dean and alot of the top biotechnology companies.

[Startraveler]

i thought the new universal health care was supposed to take the profit out of it.

It's not. Have you just been making up your own reality on this issue?

[danielost]

It's not. Have you just been making up your own reality on this issue?

really i thought that this was a way to get back at those evil insurance companies. and you do know that with the passage of this law, doctors are/will be reduced to the status of a janitor, like they are in san fransisco anyways. stupid unions.

Edited March 24, 2010 by danielost

[Startraveler]

You thought they were all being converted to non-profits?

[Drj312]

You thought they were all being converted to non-profits?

i think he meant they will be getting less profit, not being turned into non-profit organizations

[284dan]

i thought the new universal health care was supposed to take the profit out of it.

The health insurance companies wrote this bill and it will mean billions in profit because everyone will be required to carry health insurance. The "everyone is covered" doesn't start kicking in until, I believe 2014, and doesn't cover all until 2018. We got bamboozled.

[danielost]

The health insurance companies wrote this bill and it will mean billions in profit because everyone will be required to carry health insurance. The "everyone is covered" doesn't start kicking in until, I believe 2014, and doesn't cover all until 2018. We got bamboozled.

i knew this. but the sheep didnt. this is so that obama is out of office and the next president can get the blame for it.

Edited March 24, 2010 by danielost