Daily Archive: September 24, 2020

Why healthcare stocks may be poised for a breakout year post-election

Ever since 2019, the healthcare sector has been white-knuckling and preparing itself for what may be a volatile and uncertain election year for stocks. But according to UBS, 2020 is shaping up to look a whole lot like 2009 for the sector—which could actually help put some investors’ minds at ease.

Historically, “the market reaction has been largely to sell much of the healthcare sector, lowering valuations until clarity arrives after the election,” UBS’s Americas healthcare analyst Eric Potoker wrote in a note Tuesday. “The market’s current treatment of healthcare stocks falls into that familiar pattern.”

Potoker argues the “most relevant” comparison for how the healthcare sector is shaping up today is the 2008-9 election, when, in early 2009, President Obama “made health reform a legislative priority, and a dark cloud enveloped the sector.” But instead of massive, painful reforms to the sector that hurt healthcare and insurance stocks, he … Read More

Senate polarized over next coronavirus aid package By Reuters

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© Reuters. Democratic National Convention held in Milwaukee

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WASHINGTON (Reuters) – U.S. Senate leaders on Wednesday held onto their radically different positions on what is needed to address the continuing fallout from the coronavirus pandemic, one day before a vote on a modest Republican bill that appeared destined for defeat.

The Republican bill, unveiled on Tuesday, would provide around $300 billion in new aid for schools, businesses, medical supplies and other coronavirus-related costs. It was drastically scaled down from a $1 trillion plan Republicans offered in July and far from the more than $3 trillion Democrats have been pushing.

Democrats are expected to block the Republican bill from advancing, arguing that there is nothing bipartisan about it and that it falls far short of the nation’s needs during a pandemic that has killed nearly 190,000 people in the United States and brought massive job losses.

“Do you want

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