On a separate note, health care continues to remain a hot topic as many are wary about how the government will overhaul an industry that constitutes such a big part of the economy.  Many are concerned that a costly overhaul of the industry will result in poor quality and fewer choices.  The bill has to make it past the House of Representatives’ Energy and Commerce Committee first, then will be re-drafted and, if approved, sent to the President for signature later on in the year.

Overall, all three major U.S. indices are trading up with the S&P 500 leading the pact gaining 1.8%, followed by the Nasdaq which is up 1.7% and the Dow Jones Industrial Average up 1.5%.

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Kevin Grewal contributed to this article.