U.S. stocks rose on Tuesday as investors bet that a Senate race in Massachusetts could put President Obama's reform plans, especially those on healthcare, in jeopardy.
The S&P Healthcare Index (.GSPA) climbed 2.1 percent, led by Edward Kennedy in a close race.( .N), which jumped 5.5 percent to $51.17, as voters headed to the polls to determine who will replace
Pharmaceutical companies' shares also advanced, with Merck & Co ( .N) up 3 percent at $40.64, and Pfizer Inc ( .N) up 2.2 percent at $19.91. The pair represented the Dow's top two .
"A Republican win would be a positive for the markets since it would mean increased potential for gridlock in Washington," said Carmine Grigoli, chief U.S. strategist at New York.in
"This is probably especially true now, given the very large social agenda of the Obama administration."
'nuff said about Obamacare?