
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.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.