Obama care plan and the markets | Trading and Investing 4U

Investors endured another roller coaster ride last night as they waited for the results of the Obama care plan and global markets bounced all over the place. There were a few announcements like the health care plan decision and other global events that are being blamed for the turbulence, but as usual the majority of fingers are pointing at Europe as doubt arise as to whether they will actually come up with some meaningful, effective policy initiatives during the summit they have been attending.

For U.S. Stocks The NASDAQ, the Dow Jones and the S&P 500 all began the trading day by jumping off a cliff and investors had to watch as prices plummeted, only to have things rebound in the second half of the day. Nevertheless, the major indices in the U.S. all finished down and the majority of the markets in Europe did the same; the Dow Jones, the S&P 500 and the NASDAQ finishing, .20 percent, .21 percent and .90 per cent respectively.

Many investors yesterday were waiting in anticipation for the Supreme Court ruling which would decide the fate of the Health Care Plan the Obama administration had put together. In the end the Supreme could upheld the plan and various pharmaceutical stocks and health care management stock were affected accordingly.? While some analysts believed the days nose dive in the beginning was due to this announcement it was clear there was more to it than the Supreme Court ruling as pharmaceutical and health stocks only make up around one percent of the major indices. So, all eyes turned to Europe and the summit. The ten thousand summits from the past had managed to come up with little to no policies of any effect and analysts believed that would likely be the case today as well.

Big Picture

The ruling on the Obama care plan would likely only have affected a small percentage of stocks in the major U.S. indices. It may be that we will see some more downside should the results from Europe be as anticipated.

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