Traders focused on health stocks because the bill passed by the House will extend benefits to 32 million uninsured Americans. That means increased business for insurers and drug makers. Many of the key points of the bill will not go into effect for several years.
Obamacare is a boon for the drug industry, the health care industry and the insurance industry. Barack Obama, Nancy Pelosi, Democrats, and big corporations have won. The American people, as so often happens when both big government and big business win, have lost.