Indexes Climb, Health Care Sick, Oil Drops Hard

US stock indexes climbed across the board on oils retreat and technology stocks advance. The DJIA added +34.03 to 12063.09, the Nasdaq climbed +32.36 to 2462.07 and the S&P 500 advanced +5.02 to 1342.83.

WellPoint Inc. (WLP | Quote | Chart | News | PowerRating) retreated 4.93% or $2.56 to $49.40/share after Coventry Healthcare lowered it's forecast for the second time in 2008.

Coventry Healthcare (CVH | Quote | Chart | News | PowerRating) collapsed 21.68% or $8.67 to $31.33 after slashing its earnings forecast for the second time.

American International Group (AIG | Quote | Chart | News | PowerRating) advanced 4.85% or $1.53 to $33.05/share when the world's largest insurer was upgraded to a “buy” by a Citigroup analyst.

Carnival Corp. (CCL | Quote | Chart | News | PowerRating) cruised up 5.35% or $1.87 to 36.84 on beating second quarter profit estimates by 18%.

Oil dropped hard to $131.69, giving up $4.99/barrel when China announced an increase in prices. Gold climbed $10.70 to $904.70/oz and the S&P Energy Index fell 13.69 to 636.67.