Dow Up 116 on Massachusetts Race

Investors were betting that Brown will win and dash reform legislation
By Nick McMaster,  Newser Staff
Posted Jan 19, 2010 3:24 PM CST
In this Dec. 31, 2009 file photo, snow falls outside the New York Stock Exchange in New York.   (AP Photo/Henny Ray Abrams, file)
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(Newser) – Stocks rallied today, led by a surge in health care stocks, the Wall Street Journal reports. Traders were betting that Scott Brown would beat Martha Coakley in Massachusetts and damage the chances of health care reform.

  • The Dow rose 116 points to close at 10,725.
  • The Nasdaq added 32 points, settling at 2,320.
  • The S&P 500 gained 14 points, closing at 1,150.

"Health-care stocks are likely to rally in the event of a GOP Senate seat win given the implied higher odds that health-reform efforts are thwarted," said a Goldman Sachs analyst. "By contrast, hospital stocks might be under pressure, as these companies have been viewed as net winners under reform."

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