MIDDAY LUNCH

Dow 10385.04  -15.64, Nasdaq 2238.81  -4.90, S&P 1106.93  -2.24 

Stocks are continuing to trade in negative territory today.  News that President Obama has proposed a new health care reform plan along with a tax on unearned income and a Hospital Insurance tax for high-income households sent stock lower.

The propose plan gives government authorities the ability to limit rate hikes by health insurance companies. A White House official said regulators will be able to deny unfair premium increases, roll back increases already in effect, and demand a rebate for consumers. 

It is interesting that companies that would be affected and possibly hurt by this are trading higher.  Wellpoint (WLP) 59.64 +1.17, +2.00%, UnitedHeath Group (UNH) 32.95 +1.01, +3.16%, and Humana (HUM) 47.64 +2.29, +5.05%.

Commodities are under pressure today with the CRB Commodity Index down -0.7% to a fresh session low.  Gold is weak today trading down -1.0% to $1,110 per ounce.

This has caused gold mining stocks to fall -1.8% with Newmont Mining (NEM) 47.68 -0.86, -1.77% being the biggest decliner.

Energy continues to trade as the weakest performing sector. It is now down -1.2%.  Schlumberger (SLB) 61.01 -2.88, -4.51% remains a primary laggard in the group. The slide follows news of its stock-for-stock merger with Smith International (SII) 40.68 +2.98, +7.90%.