Healthcare stocks surge after midterms; Humana hits all-time high

Healthcare stocks rallied Nov. 7 in the wake of midterm elections that delivered a split Congress, according to Reuters.

The election results caused shares of U.S. pharmaceutical companies to rise, as the divided Congress is unlikely to reduce drug prices. Shares of Pfizer and AbbVie were up more than 3 percent on Nov. 7, while shares of Merck and Bristol-Myers Squibb were up more than 2 percent.

The election results and the legislative deadlock that is expected over the next two years also caused shares of major health insurers to jump.

Shares of Humana hit an all-time high Nov. 7 of $354.33, and shares of Anthem and UnitedHealth also hit records, according to Reuters.

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