Shares of some healthcare providers that have benefitted from the Affordable Care Act jumped on Friday after the GOP pulled a vote in Congress on its replacement.
The move was made after a one-day postponement as it became clear that there would not be enough votes to pass the bill that would repeal and replace Obamacare.
HCA Holdings finished the trading session up 3%, gaining sharply right after news reports of the canceled vote crossed around 3:30 p:
Tenet Healthcare, which runs over 450 outpatient facilities, also jumped:
So did Centene:
Universal Health Services, which manages hospitals and clinics, also rallied:
All these stocks sold off sharply after President Donald Trump was elected in November.
The main indexes also spiked after Republican congressional leaders pulled the vote. The S&P 500 ultimately settled little changed, down 0.06%.