S&P expects the Fed will be forced to cut interest rates in 2019

In this image, Powell stands and speaks while gesturing with his palm facing out.
Federal Reserve Board Chairman Jerome Powell at a news conference on May 1, 2019. Photo: Mark Wilson/Getty Images

Ratings agency S&P Global is now joining the market chorus — it expects at least one interest rate cut from the Fed this year, citing "increasing headwinds."

Where it stands: Earlier this year S&P predicted the Fed would hold rates steady through 2019, but said Wednesday it expects the overwhelmingly negative impacts from tariffs to put enough stress on the U.S. economy that the Fed will be forced to act.

Health care stocks have recovered

Data: FactSet; Chart: Axios Visuals

The collective stock prices of the largest health care companies have recovered pretty much all of their losses from April, when analysts and algorithms soured on the industry over fears of "Medicare for All" and other looming changes.

The bottom line: The health care industry is still extremely profitable, and Wall Street has the attention span of a gnat.