Afternoon Markets: Dow buoyed by health vote

clock

Drug companies led the Dow Jones higher on Monday, up 37.72 points (0.35%) to 10779.70, after US lawmakers gave the final approval to sweeping healthcare reforms on Sunday.

Although global drug makers will take a hit to earnings from 2011 when they will be forced to help pay for healthcare reform, they will benefit over the long term as an additional 32 million Americans become customers for their medicines. Shares in Pfizer Inc, the world's biggest drug maker and Merck & Co Inc both gained in early business, trading at $17.18, up 0.27 points (1.60%) and $38.86 0.80 points (2.10%) respectively. Elsewhere Boeing Co. continued its winning streak, after reporting mounting orders for its planes last week, rising 2.14% (1.52 points) to $72.37. However, com...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read
City 'has lost sympathy with this Labour government' - George Osborne

City 'has lost sympathy with this Labour government' - George Osborne

Former chancellor defends the OBR

Michael Nelson
clock 01 October 2025 • 3 min read
Labour remains 'unequivocal in our commitment to economic responsibility' - Chancellor

Labour remains 'unequivocal in our commitment to economic responsibility' - Chancellor

Rachel Reeves was speaking at the Labour Party conference

Linus Uhlig
clock 29 September 2025 • 3 min read