Health insurers lead stocks higher
The Dow Jones industrial average closed at a record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening. Traders plowed money back into European stocks as the financial situation in Cyprus seemed to stabilize.
Health insurers powered the gains a day after the government released revised reimbursement rates for Medicare Advantage plans.
The new numbers suggest that funding cuts will be less severe than analysts and companies had feared.