Tech, health stocks gain post-election

Friday, November 2, 2018, Vol. 42, No. 44

NEW YORK (AP) — Technology and health care stocks are leading indexes broadly higher on Wall Street as results of the midterm elections came in largely as investors had expected.

Big retailers and other high-growth stocks also rose Wednesday.

Health insurers were doing especially well after the Democrats took control of the House of Representatives, greatly decreasing the chances that the Affordable Care Act will be repealed. Several states also approved expanding Medicaid.

UnitedHealth Group rose 4.4 percent and Molina Healthcare jumped 8.5 percent.

The S&P 500 index rose 36 points, or 1.3 percent to 2,792.

The Dow Jones Industrial Average climbed 279 points, or 1.1 percent, to 25,918. The Nasdaq composite climbed 138 points, or 1.9 percent, to 7,514.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.19 percent.