A modest rally lost steam Friday afternoon, and the stock indexes closed mixed. However, as it became clear that the Trumpcare bill would not get to a vote, some health care stocks rose, including shares in hospitals and insurers who focus on Medicaid health plans.
ON WALL STREET: At the close, the Standard & Poor’s 500 index was off nearly 2 points, about 0.08 percent, at nearly 2,344.
The Dow Jones industrial average slid nearly 60 points, about 0.3 percent, to 20,596.7.
The Nasdaq composite added 11 points, about 0.2 percent, to 5,828.7.
OIL PRICES: As markets closed, the price of U.S. crude oil was up 37 cents at $48.07 a barrel in electronic trading on the New York Mercantile Exchange. In London on the Intercontinental Exchange Europe, Brent crude, used to price international oils, gained 36 cents to $50.92 a barrel.
WINNER’S CIRCLE: Bloomberg News reported that hospitals and some insurers would have been hurt by the GOP bill, which would cut millions of people from health insurance and roll back an expansion of the Medicaid program for the poor. Centene Corp., an insurer that focuses on Medicaid plans, gained $3.42, about 5.2 percent to close at $68.73. The increase started at 3:30 p.m. Eastern Daylight Savings Time, as the bill’s fate became clear.