Biden’s Wins Send Health Stocks Soaring, Dow +1173

March 4, 2020 2020 Elections, Business

Stocks surged on Wednesday as major victories from former Vice President Joe Biden during Super Tuesday sparked a massive rally within the health-care sector.

The Dow Jones Industrial Average soared 1,173.45 points higher, or 4.5%, to 27,090.86. The S&P 500 jumped 4.2% to 3,130.12, while the Nasdaq Composite advanced 3.8% to 9,018.09. The Dow posted its second-highest point gain ever, and it was the second time in three days that the 30-stock average swung 1,000 points or higher.

Tuesday’s primary results sent health-care stocks flying. The S&P health care sector surged 5.8%, posting its best day since 2008. UnitedHealth and Centene jumped 10.7% and 15.6%, respectively. Shares of UnitedHealth had their biggest one-day gain since 2008.