McCain, who dealt the final blow to Republicans’ previous attempt at repealing the Affordable Care Act, said lawmakers “should not be content to pass health care legislation on a party-line basis.”
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Healthcare stocks are rising after John McCain dealt a major blow to the Republican healthcare bill
Investors seem to be happy as the chances of an Affordable Care Act replacement fade.
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His statement sent the S&P 500 healthcare index, which consists of 10 stocks, up 0.45%.
Here are some of the most notable movers:
- Tenet Healthcare (THC) +3.45%
- LifePoint Hospitals (LPNT) +1.87%
- Community Health Systems (CYH) +1.92%
- HCA Holdings (HCA) +1.34%
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Shares of Humana (HUM) initially spiked as high as 0.3%, but fell to trade down around 0.21% mid-afternoon.
Senators Lindsey Graham and Bill Cassidy unveiled their last-ditch attempt at repealing the Affordable Care Act last week. You can read more about the details of the bill from Business Insider's Bob Bryan here.
A vote was originally scheduled to take place next week, but as lawmakers scramble to hammer out the details, that is looking less and less likely to happen.
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