Wall Street Rises as Financials Lead Before Earnings
Hospital and insurer groups have been vocal against proposed Medicaid cuts which could result in lower revenues for hospitals like Community Health Systems Inc
and Medicaid insurance specialists like Molina Healthcare and Centene Corp.
Investors are eager to move past the healthcare bill
and onto comprehensive tax reform, though Congress’s ability to address it soon are in doubt, Cox said.
The S&P 500 healthcare index was up 0.09 percent, barely moving on news of U. S.
Senate Majority Leader Mitch McConnell’s unveiling of a revised healthcare bill.
NEW YORK — Wall Street posted slight gains on Thursday
and the Dow hit another record high close, with financials rising ahead of profit reports due Friday from several big U. S. banks.
The Dow Jones Industrial Average rose 20.95 points, or 0.1 percent, to 21,553.09, the S&P 500 gained 4.61 points, or 0.19 percent, to 2,447.86
and the Nasdaq Composite added 13.27 points, or 0.21 percent, to 6,274.44.
Federal Reserve Chair Janet Yellen told a Senate panel on Thursday
that it would be "quite challenging" for U. S. growth to reach a 3-percent target set by President Donald Trump.
Jamie Cox said that Even if this bill is passed, there will be multiple iterations of healthcare legislation to come,
