The US House gave final approval to a sweeping health care overhaul on Sunday, expanding insurance coverage to nearly all Americans. How will markets trade from here? Jamie Cox, managing partner at Harris Financial Group, and Uri Landesman, head of global growth at ING Investment Management, shared their market insights.
“I think we’re going to drift sideways for a while,” Cox told CNBC.
“We’re going to digest what’s going on with the health care bill and have a lot of other things to deal with like the financial regulatory reform, but I don’t think these things are so pivotal that the market cannot move higher.”
In the meantime, Landesman expects the markets to dip before moving higher.
“This bill, while seen as very negative for various aspects of health care, is actually going be a positive because the overhang will be gone," he said. "...And long-term, investors want to buyhealth care.”
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No immediate information was available for Cox or Landesman.