Dow Jones Newswires
March 22, 2010
Health-care stocks led the stock market higher Monday after the U.S. House Sunday approved a historic health-care overhaul designed to bring health insurance to 32 million more Americas while subjecting U.S. industries to a dramatically redrawn and newly regulated marketplace.
MARKET ACTION: U.S. stocks gained broadly, led by a surge in health-care stocks.
The Dow’s pharmaceutical components strengthened, as drug makers are expected to profit from the expansion of health-care coverage. Merck rose 2.3%, while Pfizer climbed 1.5%.
Hospital operator Tenet Healthcare rose 6.1%, while insurer Cigna gained 1.9% and Express Scripts, a pharmacy benefit manager, rose 2.1%. Pharmaceutical companies also climbed, with Eli Lilly up 1.3% and Bristol-Myers Squibb up 0.6%.
This article was posted: Monday, March 22, 2010 at 11:23 am