Managed Care Peers Jump as Sanders Bid Hurt by Rivals’ Exits
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U.S. health insurers rose the most in five months after two Democratic presidential hopefuls wthdrew from the race and said they would endorse Joe Biden, pressuring Bernie Sanders’s Medicare for All plan.
The seven-member index of S&P managed care companies extended gains around midday Monday, after Senator Amy Klobuchar (D-Minn.) ended her bid for the presidency and said she plans to endorse the former vice president for the party’s nomination. The stocks continued to climb as the Associated Press reported fellow rival Pete Buttigieg would also support Biden after halting his own campaign over the weekend.