Health sector leads Wall Street higher

[dysfunctional press]

Source: yahoo! news

Health insurer stocks rose, with the Morgan Stanley Health Payor index (.HMO) up 4 percent and Aetna Inc (AET.N) rising 5.5 percent to $34.30.

A broad health-care overhaul passed a crucial test in the Senate early Monday, as enough votes were put together to clear a key procedural hurdle in approving President Barack Obama's top legislative priority.

"The market was just looking for clarity, and with the vote it can pin down what the effect is going to be on these companies," said Craig Miller, vice president of health-care trading at Stifel Nicolaus in Baltimore.

Read more: http://news.yahoo.com/s/nm/20091221/bs_nm/us_markets_stocks

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the title of the article says A LOT about the senate legislation.

[ixion]

1. Indeed. if there was ever any doubt who this bill benefits, just follow the money

as usual.

[WriteDown]

2. Yay!!!!!

:eyes:

[abelenkpe]

3. good bet

mandated insurance and no price controls should lead increased profits. Invest accordingly. YOu too can profit off other's misery.

:sarcasm:

[drdtroit]

4. Uniquely American, smirk! n/t

[inna]

6. "Uniquely American" = Profits Over People

Profits over people's lives, health and well being. What a country.

[drdtroit]

8. As someone headed to the bottom of the 7th in life, it's tragic! n/t

[pjt7]

5. ha ha bitches!

we own you.

sincerly,

the health insurance giants

[SandWalker1984]

7. Of course, the Senate is set to pass the Insurance Wealthcare Bill

I received this email from firedoglake today that I'd like to share with all of you:


The Senate's health care bill must be killed.

It is an ungodly mess of errors, loopholes, and massive giveaways. When the American people find out what's actually in this bill, they will revolt. Congress and President Obama have no choice but to do better for health care than this bill.

Sign the petition: the Senate health care bill must be killed.

How bad is the bill?

Forces you to pay up to 8% of your income to private insurance corporations -- whether you want to or not.

If you refuse to buy the insurance, you'll have to pay penalties of up to 2% of your annual income to the IRS.

After being forced to pay thousands in premiums for junk insurance, you can still be on the hook for up to $11,900 a year in out-of-pocket medical expenses.

Massive restriction on a woman's right to choose, designed to trigger a challenge to Roe v. Wade in the Supreme Court.

Paid for by taxes on the middle class insurance plan you have right now through your employer, causing them to cut back benefits and increase co-pays.

Many of the taxes to pay for the bill start now, but most Americans won't see any benefits -- like an end to discrimination against those with pre-existing conditions -- until 2014 when the program begins.

Allows insurance companies to charge people who are older 300% more than others.

Grants monopolies to to drug companies that will keep generic versions of expensive biotech drugs from ever coming to market.
No reimportation of prescription drugs, which would save consumers $100 billion over 10 years.

The cost of medical care will continue to rise, and insurance premiums for a family of 4 will rise an average of $1000 a year -- meaning in 10 years, you family's insurance premium will be $10,000 more annually than it is right now.

I could go on, but it should be clear: this is not reform. This is a con job.

Sign our petition: kill the Senate bill. http://action.firedoglake.com/page/s/killthisbill?sourc...


Make no mistake, we need health care reform. But the Senate's idea of reform is a disaster, and will make things far worse than they are today.


We will continue to fight for real health care reform. Now, we must kill this fake reform.

Thanks for all you do.

Jane Hamsher

Firedoglake


P.S. Please, after you've signed, forward this email to your friends, family, coworkers - anyone you know. It's critical we act fast to kill the Senate bill, and we need everyone we can on board.

[pattmarty]

9. I signed it earlier.

[Garam_Masala]

10. Insurance stocks lead rally on Wall street

Source: CNBC

DJI up 116
SPX up 13.5
NAZ up 26

No link yet.

---

Big insurance stocks are celebrating the cloture vote on HCR.
Most hitting yearly highs.

Who says this bill is not rewarding the big insurance and big pharma?

[SpiralHawk]

11. "Tis the season to be jolly." - Insurance FatCats

[AndyA]

12. Follow the money.

America has just been raped. The money exposes the truth. If this were not good for the health insurance companies, their stock would be dropping.

[ixion]

16. exactly... the insurance companies don't have to wait until 2014 to see anything

they get their results before the thing is even off the floor.

[joeybee12]

13. Come on...it's the good instead of the perfect!

Good for insurance companies, but not perfect for them...not just yet.

[Garam_Masala]

14. Yes, it will be very interesting to watch insurance stocks for next few weeks

I am betting they will keep going higher.

[mbperrin]

15. Yes, follow the money.

Kill this bill now. Start again with single payer.

[Goldstein1984]

17. What better indicator is there?

I'm in Alaska, and I can hear the laughter on Wall Street from here.

[chandler2]

18. Dems will now have plenty of $$$ for 2010 & 2012 nt

[Garam_Masala]

23. Oh yes,,,watch campaign contributions pouring in....

which only means they will be deeper down in the pockets of Wall Street.

[LaPera]

29. And the American workers & people lose.

[Plucketeer]

19. Free Market Enterprize?

Or Free Market Handouts?

[ixion]

20. Hizzah for our Corporate Overlords! All Hail the new Quasi Federal Agency

now forever enshrined in the system to bilk people out of their money!


:woohoo:

[tomm2thumbs]

21. nuff said

[Godhumor]

22. Edited: See a link now

Take a look at the measures and the rationale. Everything is up. Treasury yields have widened based on signs of global recovery.

edit: Removed looking at the SPI in specific.

[Garam_Masala]

24. with one crucial difference

health related stocks are hitting new yearly highs,
chip stocks are not.

[Godhumor]

25. Treasury yields also hit new highs on the signs of global recovery. Everything is going up.

This is not a one industry thing, period.

[whosinpower]

26. The kneejerk reactions speak again

Once again - this news report is a bit misleading. The biggest winners thus far today - ALCOA (I beleive that is mining) Potash, Mosaic (fertilizer) given a ratings boost today from Goldman Sachs.
Intel also gained. Oil futures are up as well.

Traditionally - the last two weeks of December are strong trading weeks for the stock market.

And finally - the stock market is a fickle thing - it cannot and should not be used as any indicator of anything other than greed and gambling. Insurance and pharma gained - so did practically everyone else - so what? Does that mean that everyone is rushing to buy potash because the senate finally achieved movement towards a final health care bill?

So quick the knee jerk reactions to any media reports - and there are so many here that swallow it hook line and sinker - as if the media have always been forthright and honest. Good grief.

Stop grabbing that knee - and start doing some independant thinking/research before reacting.

[WriteDown]

28. Okay, independently there is mandated insurance and NO public option...

Independent enough?

[defendandprotect]

27. It's a Win/Win for them in Obama's Health Care DEFORM . . .

and what do the American public hate most of all -- insurance companies!!!