Health stocks embraced amid market uncertainty

The Wall Street Journal reports that following President Barack Obama's re-election, health stocks are viewed as a port in the storm. Other news outlets explore how the markets have remained stable during the 'fiscal cliff' negotiations as investors count on an eleventh-hour deal.

The Wall Street Journal: Health Stocks A Port In Market Storm
Some investors believe they have found a remedy for the volatile market: health-care stocks. Money managers are embracing the group following the Nov. 6 U.S. presidential election, which ensured that the health-care overhaul championed by President Barack Obama will survive. While the overhaul of the U.S. health-care system creates winners and losers within the industry, investors say the newfound certainty heightens health care's overall allure (Jarzemsky and Kiernan, 12/4).

The Associated Press/New York Times: As Budget Talks Continue, Markets Change Little
Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington. … Investors are waiting for developments on the budget talks, which are aimed at avoiding the government spending cuts and tax increases that would begin to arrive Jan. 1 and could eventually cause a recession. … Republicans, led by Mr. Boehner, have balked at Mr. Obama's proposal of $1.6 trillion in additional taxes over a decade, and called on Monday for increasing the Medicare eligibility age and lowering cost-of-living increases for Social Security benefits (12/4).

The Washington Post: 'Fiscal Cliff' Warnings Yet To Faze Wall Street
The markets' sense of confidence -; or, arguably, complacency -; is rooted in two strains of thought. One is that all the tough talk from the negotiators is mere posturing, nothing more than a signal to their allies that they are taking a stand in advance of real dealmaking closer to the deadline. Investors and executives have repeatedly seen brinkmanship out of Washington -; including over raising the cap on government borrowing in the summer of 2011 -; conclude with an agreement at the last possible moment (Irwin, 12/4).