- UnitedHealth stock gains on Dr. Oz being named to Trump administration.
- Trump pushed Mehmet Oz's nomination to be head of Centers for Medicare & Medicaid Services.
- Oz is considered likely to push more Medicare Advantage plans, which benefit private-sector insurers like UNH.
- UNH stock is testing the $600 resistance level on Wednesday.
UnitedHealth Group (UNH) stock surged more than 3% on Wednesday as investors bid up most US health insurers after President-elect Donald Trump named Dr. Oz to manage the government’s healthcare insurance unit for the elderly and indigent.
The market is bracing for Nvidia (NVDA) earnings that arrive after the close on Wednesday, so the Dow Jones Industrial Average (DJIA), which contains both UnitedHealth and Nvidia, has slumped slightly. Only the S&P 500 has made gains among the major equity indices on Wednesday, and the NASDAQ is faring the worst, down 0.7%.
UnitedHealth stock news
Dr. Mehmet Oz, better known as Dr. Oz on television, has been a well-known face of medicine for years. Through his appearances on the Oprah Winfrey Show and elsewhere, Dr. Oz became a common personality for those seeking medical advice before then running and losing as the Republican Senate nominee for Pennsylvania in 2022.
Trained as a cardiothoracic surgeon, Oz has been named by the incoming Trump administration to head the Centers for Medicare & Medicaid Services (CMMS). This part of the government manages trillions of dollars that provide healthcare for retirees (Medicare) and those without means (Medicaid).
The basic gist here is that Dr. Oz has made positive statements in regard to Medicare Advantage plans. These plans give private insurers the ability to manage government Medicare plans for a profit.
Besides UnitedHealth, other insurers like CVS Health’s (CVS) Aetna unit, Elevance Health (ELV) and Humana (HUM) all saw their share prices climb on Wednesday.
JPMorgan pointed to postive statements that Dr. Oz made during his Senate run in 2022.
"We can expand Medicare Advantage plans," Oz said back on the campaign trail two years ago. "These plans are popular among seniors, consistently provide quality care, and have a needed incentive to keep costs low."
UnitedHealth stock chart
UNH stock is having trouble attacking the $600 level. Above there, resistance at $608 looms.
UNH daily stock chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD remains offered in the low-1.0900s
The generalised selling pressure continues to weigh on the risk complex, pushing EUR/USD back toward the 1.0900 support level amid a growing risk-off mood, as traders assess President Trump’s reciprocal tariffs and their impact on economic activity.
GBP/USD retreats further and breaks below 1.2800
The US Dollar is picking up extra pace and flirting with daily highs, sending GBP/USD to multi-week lows near 1.2770 in a context where safe-haven demand continues to dictate sentiment amid the chaos of US tariffs.
Gold recedes to four-week lows near $2,950
The persistent selling pressure is now dragging Gold prices to the area of fresh multi-week troughs near the $2,950 mark per troy ounce, always amid the continuation of the recovery in the US Dollar, highr US yields across the curve and unabated tariff tensions.
US stock market suddenly reverses higher after rumor of 90-day tariff pause before sinking again Premium
NASDAQ sinks 4% before shooting higher on tariff pause rumor. CNBC says White House unaware of tariff pause rumor. S&P 500 sinks to January 2024 level. Bank of America cuts its year-end target for S&P 500 by 16%.
Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.