UnitedHealth Group Inc., the biggest U.S. health insurer, said first-quarter profit fell 7.8 percent, hurt by cuts to its Medicare Advantage program for elderly and disabled Americans. The shares declined the most in six months.
Nancy Beigel has known since September that she would need hernia surgery. She couldn’t afford it on her $11,000 yearly income until she became eligible for Medicaid in January through President Barack Obama’s signature health care law.
The dollar rose the most in two weeks against the yen as risk appetite swelled amid a higher- than-forecast gain in U.S. industrial production and as companies’ earnings topped estimates, damping demand for safety.
The Standard & Poor’s 500 Index rose, giving it the best three-day rally in two months, while Treasuries fell as Yahoo! Inc. jumped on earnings and U.S. industrial production increased. The pound strengthened and copper advanced.
Natural gas futures slipped in New York for the third time in four days on forecasts for warmer weather that would limit heating demand after a cold blast, accelerating inventory restocking from an 11-year low.
The dollar rose for a third day as tension in Ukraine prompted traders to seek refuge in the world’s reserve currency and on speculation Japan may be moving closer to starting another round of economic stimulus.
The hryvnia rallied after Ukraine’s central bank raised interest rates by the most since 1998 to stem the world’s worst selloff this year. Government bonds dropped amid a military confrontation in the country’s east.