Hurricane Milton Evacuations 'A Matter Of Life And Death,' Biden Says: Fed's Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months
Portfolio Pulse from Chris Katje
Hurricane Milton, a Category 4 storm, is approaching Florida, potentially impacting the insurance sector and the broader U.S. economy. Insurance stocks like Berkshire Hathaway, Allstate, Chubb, Progressive, and Travelers may experience volatility. Kinder Morgan and Citgo have shut down operations in Florida, while Disney and Universal theme parks remain open. The storm could cause significant economic damage, with estimates reaching up to $175 billion.
October 08, 2024 | 8:32 pm
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NEGATIVE IMPACT
Allstate Corporation's stock may experience volatility due to the potential financial impact of Hurricane Milton on the insurance sector.
Allstate, being part of the insurance sector, is likely to be affected by the financial implications of Hurricane Milton, leading to potential stock volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Berkshire Hathaway, as a major player in the insurance sector, could see stock volatility due to Hurricane Milton's potential impact on insurance claims.
Berkshire Hathaway is a significant player in the insurance industry, which is expected to be heavily impacted by Hurricane Milton. The potential for increased claims and financial losses could lead to stock volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Chubb Limited may face stock volatility due to Hurricane Milton's impact on the insurance sector.
Chubb Limited, as an insurance company, is expected to be impacted by Hurricane Milton, potentially leading to increased claims and stock volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Comcast Corp's Universal Orlando remains open, but operations could be impacted by Hurricane Milton.
Comcast's Universal Orlando remains operational, but the hurricane could disrupt activities and affect revenues.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Walt Disney Co's theme parks in Florida remain open, but the hurricane could have a $150M-$200M negative impact.
Despite remaining open, Disney's theme parks in Florida could face financial impacts from Hurricane Milton, with potential losses estimated at $150M-$200M.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Kinder Morgan Inc has shut down its Central Florida pipeline system due to Hurricane Milton, potentially impacting its operations and revenues.
Kinder Morgan's decision to shut down its pipeline system in response to Hurricane Milton could disrupt its operations and affect its revenues.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Progressive Corp's stock could be volatile due to the potential impact of Hurricane Milton on the insurance sector.
Progressive Corp, being part of the insurance industry, is likely to face financial impacts from Hurricane Milton, leading to potential stock volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Travelers Companies Inc may experience stock volatility due to Hurricane Milton's impact on the insurance sector.
Travelers Companies Inc, as an insurance provider, is expected to be affected by Hurricane Milton, potentially leading to increased claims and stock volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80