http://www.usatoday.com/money/markets/2010-03-22-stocks-monday_N.htm?csp=34Posted 28 minutes ago
NEW YORK (AP) — Health stocks lifted the market Monday following House approval of an overhaul bill that would extend insurance to millions.
Investors had expected the health care bill would pass the House, but the approval late Sunday removed uncertainty about the rules that would govern the industry. A companion bill now goes back to the Senate. The changes could have far-reaching effects on health insurers and drugmakers.
ON POLITICS:Latest on health care
Stocks opened lower following more doubts about Greece's ability to repay its debt. Concern about the country's fiscal crunch pushed investors into the safety of the dollar. The rising dollar hit shares of energy and commodity producers, who see demand fall when the dollar strengthens.
The latest concern is that Greece might not get the outside financial support it has been seeking. The country's debt woes have dragged down the market off and on for nearly two months as the country tries to cut its budget and is looking for outside support.
The gains in health stocks overshadowed questions about Greece. Health stocks rose in part because the bill passed by the House will extend benefits to 32 million uninsured Americans. That means increased business for insurers and drug makers. Many of the key points of the bill will not go into effect for several years.Continued at above link
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
