America

Health Care Stocks On The Rise After Vote

The political fallout from the passage of legislation overhauling health care is still to be determined.

And the economic effects will also take quite some time to play out.

But the early reading from Wall Street seems to be that the health care industry, particularly the insurers, will be all right:

— "Health insurers' stocks rose in opening trading Monday, while the broader market slipped," Reuters says. " Large insurers WellPoint Inc and UnitedHealth Group rose slightly, while insurers such as Amerigroup and Molina Healthcare that focus on Medicaid plans for low-income Americans climbed sharply."

— "The Dow's pharmaceutical components were among the very few stocks in the black on Monday, as drug-makers are expected to profit from the expansion of health-care coverage. Merck (MRK) rose 0.3%, while Pfizer (PFE) climbed 1.1%." (The Wall Street Journal)

— "U.S. stocks fluctuated as health- care companies advanced after the House passed an overhaul of the industry, while commodity producers retreated amid concern growing government debt will stifle the economic recovery. Merck & Co. and Pfizer Inc. helped lead health-care companies to the biggest gain among 10 groups in the S&P 500 after the House approved legislation that will ensure tens of millions of uninsured Americans will get medical coverage." (Bloomberg News)

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