Drug and hospital companies led stocks higher Monday after House lawmakers ended months of uncertainty and approved the health care overhaul bill. Investors had expected the health care bill would pass the House, but the approval late Sunday removed some of the anxiety that has dogged stocks of hospitals and drug makers. For More information regarding the Latest World & Stock News, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Drug and hospital companies led stocks higher Monday after House lawmakers ended months of uncertainty and approved the health care overhaul bill. Investors had expected the health care bill would pass the House, but the approval late Sunday removed some of the anxiety that has dogged stocks of hospitals and drug makers. A bill with changes made by the House now goes back to the Senate for approval. Debate could begin Tuesday.
The 10-year, $938 billion bill will extend benefits to 32 million uninsured Americans. That will have far-reaching effects on health companies. With the bill in hand, investors could place bets on winners and losers. Hospital stocks rose on expectations they would see more business and increased revenue. Some insurers fell because of greater restrictions imposed by the changes.
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