Jack Pitcher
speaker
112 appearances
3 recordings
1 series
first heard Aug 2024
last heard Nov 2024
Jack Pitcher’s voice in public audio — every appearance, attributed to the second.
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Appearances
It sent shares of health insurers UnitedHealth and Humana tumbling the next day.
Why was that?
Many pundits said Kamala Harris turned in a strong performance, which could give her campaign a boost.
But the prospect of a President Harris makes Wall Street analysts less optimistic about the Medicare business.
That's because the Biden administration curtailed certain billing practices, and those billing practices had boosted payouts to Medicare plans.
Shares of UnitedHealth and Humana, the two largest Medicare insurers, tumbled 9% and 18% on Wednesday.
Humana was the S&P 500's worst performer this week, shedding 10%.
Perhaps this year's biggest stock market theme, the dominant performance of chip makers, was back in full force this week.
Broadcom, Supermicrocomputer, and Nvidia all rose at least 15% on the week.
Investors seem to be brushing off a disappointing forecast from Broadcom last week that sparked a sector-wide sell-off.
And that's welcome news for index fund investors, who are increasingly exposed to AI-related chip stocks like Nvidia.
It's now the third-highest-weighted stock in the S&P 500.
And now you know what's news in markets this week.
Today's show was produced by Trina Menino and Anthony Banzi with supervising producer Tali Arbel.
I'm Jack Pitcher.
Have a great weekend and see you next Saturday.
Hey, listeners, it's Saturday, August 24th.
I'm Jack Pitcher for The Wall Street Journal, and this is What's News in Markets, our look at the biggest stock moves of the week and the news that drove them.
Let's get to it.
Markets were on a roll again this week.
Showing 61–80 of 112 · page 4 of 6
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