You know, perhaps it was not coronavirus that was sinking the stock market. Perhaps it was the surge of Democratic presidential candidate Sen. Bernie Sanders of Vermont.
Following former Vice President Joe Biden’s killer performance on Super Tuesday, health care stocks and the market itself came roaring back, Fox Business reported.
Wednesday saw the Dow Jones industrial average climb more than 1,173 points while the Standard & Poor’s 500 index rose four percent and the Nasdaq composite almost reached four percent.
MarketWatch linked those changing numbers in part to fears over Sanders’ “Medicare for All” proposal.
ICE officer pleads not guilty to lying about Minneapolis shooting involving Venezuelan man
Illinois mother charged with murder in death of 2-year-old son in case drawing comparions to Lindsay Clancy
Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
CFRA analyst Sel Hardy said that Sanders’ signature plan would lead “to the termination of existing health insurance plans,” the outlet reported.
“In terms of our overall outlook for our stocks, unless there is a major shift in market conditions, Centene Corp., UnitedHealth, Humana Inc., and Cigna Corp. are set for double-digit top-line growth in the next three years, in our view, as they continue to have strong fundamentals,” Hardy wrote in a note to clients.
Keith Speights of The Motley Fool wrote that the rise in health care and health insurance stocks is directly linked to Sanders’ faltering on Tuesday.
“Sen. Sanders advocates a Medicare for All program that would largely eliminate the need for health insurance. His strength in the ongoing presidential campaign caused investors to worry about what might happen with big companies including Anthem, Humana, Cigna, UnitedHealth Group, and CVS Health (which owns Aetna),” Speights wrote.
“Now, however, former Vice President Biden appears to be the frontrunner for the Democratic presidential nomination. Several candidates have dropped out of the race and endorsed Biden, with former New York City mayor Mike Bloomberg the most recent to do so.”
ICE officer pleads not guilty to lying about Minneapolis shooting involving Venezuelan man
Illinois mother charged with murder in death of 2-year-old son in case drawing comparions to Lindsay Clancy
Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
Speights warned that Sanders could still win the nomination, and that if he does, “healthcare stocks, in general, and health insurance stocks, in particular, will likely be highly volatile.”
Democrats always present an existential threat to the stock market, but Sanders and his free-ride plans present an even more prominent danger than usual.
Coronavirus scares likely had something to do with the dip in the market, but it is tough not to see the correlation between Sanders taking a pounding and the market bouncing back.
It goes to show what many of us have said all along. Electing a Democrat, particularly a socialist, as president would annihilate the economy.
ICE officer pleads not guilty to lying about Minneapolis shooting involving Venezuelan man
Illinois mother charged with murder in death of 2-year-old son in case drawing comparions to Lindsay Clancy
Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
43-Year-Old College Freshman with Extensive Criminal Past Arrested for Alleged Dorm Sexual Assault
Alabama Police Department Calls Out Local Seniors for Weak Attempt at a Senior Prank: ‘That’s It?’
Newsom appearance in rural South Carolina draws split-screen of support and protesters
Trump commutes sentence for former Philadelphia union official, attorney says
Former Trump Cabinet official had ‘inappropriately close’ relationship with bodyguard, IG finds
Javier Milei escalates Falkland Islands feud after Trump questions UK backing
Susan Collins Gives Hilarious Answer to Whether She’ll Bring Up Troy Jackson’s ‘Personal Life’ in Maine Senate Race
Not that Biden would be much better. He has moved to the left on many issues, including a much more relaxed stance on illegal immigration.
There is also the issue of Biden’s advanced years. If he were to pick a progressive vice president who would be a heartbeat away from the presidency, it could be another downer for the market.
Biden does not advocate a “Medicare for All” system right now, but rest assured that is where the Democratic Party is heading.
One Super Tuesday victory by the lesser of two evils is not going to stop that train.
That is why it is important to elect not only President Donald Trump again in November, but also a Republican House and Senate to finally fix health care.
Story cited here.
