JEFF SAUT: This Is A Big Deal — A Major Second Half Risk Was Just Taken Off The Table (SPY, DIA)

Moments ago, the Treasury Department issued a statement saying that the White House would delay until 2015 the enforcement of the requirement for business to provide workers with health insurance under the Affordable Care Act, aka "Obamacare."

Jeff Saut, the top strategist at Raymond James, just blasted an email that read: "This is a big deal. A major 2H risk off the table..."

Under the ACA, businesses employing 50 or more workers would have to offer health insurance or pay a penalty of $2,000 per worker.

Some economists noted that a reduction in "hours worked" in some industries was a sign that employers were reducing hours intentionally to dodge this cost.

Market strategists have warned that the ACA would hit the corporate bottom line, whether it be through higher health care costs or penalties.

For now, it seems that cost will be delayed.

It will be interesting to see how the market will react.

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