Stocks in Health Care Rise after Trump’s vow to ‘Love’ and Cherish Medicare, Medicaid


President Donald Trump sits at the Resolute Desk.
Donald Trump is the President of America.

Chip Somodevilla / Getty Images

What you need to know

  • A handful of health care stocks rose Monday after President Trump said his administration is "not going to do anything" with Social Security, Medicare, and Medicaid.
  • Health insurer Molina Healthcare was the S&P 500's second-biggest riser on Monday.
  • The health care sector has bucked the trend of a general decline for U.S. stocks after Trump ordered tariffs over the past weekend on Canada, Mexico, China.

One or two health care companies saw their stock prices rise after Trump announced Friday that his administration will increase funding for the sector. “love and cherish Social Security, Medicare, and Medicaid.”

Molina Healthcare (MOH) was the second-biggest gainer in S&P 500 on Monday, with shares of the health insurer rising nearly 5%. Elevance Health’s (ELV) shares rose 2%. AbbVie added 3%. And Centene Corp. gained 1%.

Raymond James analysts stated Sunday that, while Trump had previously claimed his administration would defend Social Security and Medicare “this is the first time we know of” Medicaid has now been added to this group.

"We are not going to do anything with [Social Security, Medicare, and Medicaid] other than if we can find some abuse or waste we’d do something but the people won’t be affected," Trump told reporters Friday evening.

Trump’s tariffs on Mexico, Canada, and China of 10% and 25% respectively were a major factor in the market turmoil that followed. 

Major U.S. indexes started the session on Monday sharply lower, but they pared their losses when Trump and Mexican president Claudia Sheinbaum announced that tariffs against Mexican goods will be delayed for a month. After the close of trading, a similar suspension in tariffs was announced against Canada.

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leadzevs/ author of the article

LeadZevs (John Lesley) is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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