This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

'Fast Money' Recap: Health Care Woes

President Obama's $3.5 trillion budget did not go over well on Wall Street Thursday, especially with health care stocks.

The Dow Jones Industrial Average fell 88.81, or 1.2%, to 7,182.08, while the S&P 500 dropped 12.07, or 1.58%, to 752.83. The Nasdaq lost 33.96, or 2.38%, to 1,391.47.

Karen Finerman said on CNBC's "Fast Money" TV show that the markets were disappointed with the budget. "Some of the health care stocks were blasted by the budget," she said, adding there was great concern about the level and extent of spending.

Joe Terranova said he isn't wedded to any particular trading direction. He did say he is long on oil, noting OPEC cuts are finally taking effect.

Tim Seymour said he liked the commodity space, adding China is doing some strategic buying in copper and zinc.

Meanwhile Jeff Macke said he was staying "nimble and loose" while trading within a technical range in the S&P.

Dylan Ratigan invited Peter Orszag, director of the Office of Management and Budget, to talk about the administration's new budget. Orszag said the budget is an honest attempt to build on what Obama campaigned for. He said the budget is allocating a huge sum to improve health care because it is the key to the country's fiscal future.

Orzsag said the administration's plan to provide universal health care will require a move toward universal health care information technology, investing in research on what works and shifting government incentives to pay for better health care.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
GS $187.24 0.00%
MS $35.62 0.00%
WFC $54.50 0.00%
XOM $84.32 0.00%
AAPL $124.24 0.00%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs