TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, March 11.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange.
Stocks are coming off a losing week on Wall Street as investors reacted to a mixed February jobs report. Investors are looking ahead to key inflation data with the Consumer Price Index out Tuesday and the Producer Price Index on Thursday. Both reports will be key when the Federal Reserve makes its next interest rate decision.
In other news, a cyberattack has healthcare providers across the U.S. struggling to keep their doors open. For more than two weeks, the computer networks of Change Healthcare have been compromised, leaving thousands of hospitals unable to process insurance payments for prescription drugs.
Change Healthcare is part of United Health Group - and it allows doctors to look up patients’ insurance, pharmacies to fill prescriptions, and health clinics to submit claims to ensure they get paid. Now, the U.S. government has stepped in - asking insurance companies to pay healthcare providers in advance, ensuring they can continue to operate.
The Department of Health and Human Services, along with the Department of Labor, put out a statement saying, "We are asking private sector leaders across the healthcare industry — especially other payers — to meet the moment." Change Healthcare processes 15 billion transactions every year.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
