Diamonds and Dogs
UnitedHealth Group (UNH) and the rest of the healthcare sector lead the rally following the Super Tuesday results. UNH is up 10% back near the highs of the year after Joe Biden nearly swept the Super Tuesday Democratic primaries over self-declared socialist Bernie Sanders. The surprise Fed rate cut yesterday helped the markets overseas markets last night easing concerns here this morning.
Common theme among the dogs. Airlines, Casino stocks, cruise ships, hotels and other travel stocks have been hit hard. The World Travel and Tourism Council is estimating a $22 billion impact to the travel industry just with China. And 90% of the financial impact will come form consumers taking precautions to avoid exposure to the coronavirus. Marriott (MAR), Carnival (CCL) and MGM (MGM) are all down over 2% today at new 52-week lows.
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