Stocks To Buy As World Temperatures Rise: July 2024 Was The Hottest Month Ever For Some Regions
Portfolio Pulse from Natan Ponieman
July 2024 was the second hottest July in history, with record temperatures in several regions. This trend presents investment opportunities in companies producing air-conditioning units, weather insulation, and clean energy. Key companies include Carrier Global Corp, Whirlpool Corporation, Emerson Electric Co, Owens Corning, TopBuild Corp, Beacon Roofing Supply Inc, and clean energy ETFs like iShares Global Clean Energy ETF, First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund, and Invesco Solar ETF. Individual clean energy companies like First Solar Inc, GE Vernova Inc, and Constellation Energy Corp have also shown strong performance.
August 08, 2024 | 10:10 pm
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NEUTRAL IMPACT
iShares Global Clean Energy ETF has performed poorly since January, down over 9% year-to-date. However, rising temperatures could shift consumer preferences towards clean energy, potentially benefiting the ETF.
Despite poor performance, the iShares Global Clean Energy ETF could benefit from a shift in consumer preferences towards clean energy due to rising temperatures.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEUTRAL IMPACT
Invesco Solar ETF is down 22.8% since January. However, rising temperatures could increase interest in solar energy, potentially benefiting the ETF.
Despite poor performance, the Invesco Solar ETF could benefit from increased interest in solar energy due to rising temperatures.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
POSITIVE IMPACT
Beacon Roofing Supply Inc, a major player in weather insulation, could benefit from rising temperatures as demand for insulation increases.
Beacon Roofing Supply Inc's position in the weather insulation market makes it likely to benefit from increased demand due to rising temperatures.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
TopBuild Corp, involved in weather insulation, could see increased demand for its products due to rising temperatures.
TopBuild Corp's involvement in weather insulation positions it to benefit from increased demand as temperatures rise.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Carrier Global Corp shares have recovered from a recent sell-off and are up 17% in the last six months. The rising temperatures are likely to increase the demand for air-conditioning units, benefiting Carrier Global Corp.
Carrier Global Corp is a major player in the air-conditioning market, which is expected to grow significantly due to rising temperatures. This positions the company well for increased demand.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Constellation Energy Corp has been one of the best performers in the clean energy sector, up 61% since January. Rising temperatures could further boost interest in clean energy, benefiting the company.
Constellation Energy Corp's strong performance and the potential for increased interest in clean energy due to rising temperatures could positively impact the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Emerson Electric Co is trading at a discount but recovered 4.7% on Thursday. Rising temperatures could increase demand for its products, potentially boosting its stock.
Emerson Electric Co's recovery and the potential for increased demand due to rising temperatures could positively impact its stock.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
First Solar Inc is up 48.7% in the last six months. Rising temperatures could further boost demand for solar energy, benefiting the company.
First Solar Inc's strong performance and the potential for increased demand for solar energy due to rising temperatures could positively impact the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
GE Vernova Inc, a recent spin-off from General Electric, is up 34% since going public in March. Rising temperatures could increase interest in clean energy, benefiting the company.
GE Vernova Inc's strong performance and the potential for increased interest in clean energy due to rising temperatures could positively impact the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has performed well, up 9.5% since January. Rising temperatures could further boost interest in clean energy, benefiting the ETF.
The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's strong performance and the potential for increased interest in clean energy due to rising temperatures could positively impact the ETF.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 40
POSITIVE IMPACT
Owens Corning, a major player in weather insulation, stands to benefit from rising temperatures as demand for insulation increases.
As a major player in weather insulation, Owens Corning is well-positioned to benefit from increased demand due to rising temperatures.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Whirlpool Corporation, a major producer of air-conditioners, has underperformed the market recently and is down 10.7% this month. However, rising temperatures could increase demand for its products.
Despite recent underperformance, Whirlpool Corporation's position as a major air-conditioner producer could benefit from increased demand due to rising temperatures.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70