Bet on health-care stocks ahead of earnings, trader advises

Health-care stocks have been on a tear, and with Johnson & Johnsonand United Health Group reporting earnings on Tuesday, Todd Gordon of TradingAnalysis.com sees the sector rising even higher. The health-care-tracking ETF (XLV) is already up more than 16 percent year to date, and from a technical standpoint, the XLV is forming a “pattern” that leads Gordon to believe the ETF could hit an all-time high as soon as next month. On a chart of XLV, Gordon points out that the ETF has been making a continuous “uptrend” parallel channel, and there is…

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White House looking for health-care vote this summer, tax reform in fall

  The White House is hoping to kick-start its stalled legislative agenda with congressional action on health-care reform this summer that will clear the way for lawmakers to begin work on a major tax bill after the Sept. 4 Labor Day holiday, an administration official said on Monday. Senate Republicans will vote on their version of health-care reform legislation before lawmakers’ August recess, White House Director of Legislative Affairs Marc Short said. The House of Representatives passed a bill in May. “There’s been a lot of discussions with staff,” Short…

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Shocking truth: 20% of health-care expenditures wasted in US and other nations

A new OECD report released Jan. 10 reveals a shocking truth: About 20 cents of every dollar spent on health care in OECD countries is wasted in some fashion. That waste represents more than 20 percent of total health expenditure in the United States. The findings of the report, entitled “Tackling Wasteful Spending on Health,” will be discussed at a meeting for OECD Ministers of Health in Paris on Jan. 16–17. According to the report’s author, Agnès Couffinhal, a senior OECD health economist, it is alarming that around one-fifth of…

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New Brunswick, feds reach separate agreement on health-care funding

New Brunswick has reached its own agreement on health care funding with the federal government, and Premier Brian Gallant says he hopes other provinces are able to do the same. Gallant said he was hoping a pan-Canadian deal would have been reached, but is pleased and relieved a deal has been reached for his province. New Brunswick is the first province to strike a deal after provinces and territories rejected a federal offer Monday. “Today’s agreement ensures that we can receive funding for home care and mental health this spring…

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Health-care, biotech stocks slammed by Trump remarks

Health-care stocks were moving sharply lower Wednesday, though markets may be overreacting to morning remarks from Donald Trump. Fresh comments from President-electTrump against high drug pricing sent the iShares Nasdaq Biotechnology ETF (IBB) down more than 4 percent in midday trading Wednesday. Health care was more than 1.5 percent lower and was the worst of two declining S&P 500 sectors, while the benchmark index hit an all-time high. “I’m going to bring down drug prices,” Trump said in his profile as Time magazine’s Person of the Year. “I don’t like…

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Donald Trump or Hillary Clinton? Small businesses sound off on health-care reform

With November elections just over a month away, small-business owners are wondering what a new administration might mean for the nation’s health-care system. The candidates have squared off on whether or not the Affordable Care Act, President Obama’s sweeping health-care reform law often referred to as Obamacare, should survive. Hillary Clinton has talked about strengthening the landmark act, while Donald Trump has vowed to repeal the law on his first day of office. Photographer | Collection | Getty Images The dueling ideas have Pedro Alfonso concerned. The chairman and CEO…

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