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  <title>Here’s what history says about Hurricane Irma and the stock market - MarketWatch</title>
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         Here’s what history says about Hurricane Irma and the stock market
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    <p id="published-timestamp" class="timestamp">Published: <span>Sept 8, 2017 5:18 p.m. ET</span></p>

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<p>Individual stocks, industries could see outsize moves: J.P. Morgan</p>
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                    <figcaption>Preparing for the storm.</figcaption>
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                                        William<b>Watts</b>
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                                                               <p>Hurricane Irma’s <a href="/story/hurricane-irma-downgraded-to-category-4-but-remains-extremely-dangerous-on-its-path-to-florida-2017-09-08" class="icon none" >impending Florida landfall</a> got <a href="/story/wall-street-stocks-set-for-losses-as-life-threatening-irma-aims-for-florida-2017-09-08" class="icon none" >some of the blame</a> for an indecisive Friday on Wall Street, but history shows that major hurricanes have been a limited drag on the performance of stocks as a whole. It’s a different story, however, for individual stocks and certain sub-industry groups.</p> <p> <strong>See:</strong> <a href="/story/insurers-brace-for-a-1-in-100-year-storm-as-irma-bears-down-on-florida-2017-09-08" class="icon none" >Insurers brace for a 1-in-100 year storm as Irma bears down on Florida</a> </p> <p>And with the price tag from Hurricane Harvey and Hurricane Irma seen potentially exceeding more than 50% of the total hurricane damage tally seen over the last 50 years in 2017 dollars, those stock and sub-industry moves are likely to be even bigger than usual, wrote J.P. Morgan’s U.S. equity strategy team led by Dubravko Lakos-Bujas, in a Friday note.</p> <p> <strong>Read:</strong> <a href="/story/hurricane-irma-may-distort-the-prices-of-these-stocks-and-etfs-2017-09-08" class="icon none" >Hurricane Irma may distort the prices of these stocks and ETFs</a> </p> <p>The list of hurricane-sensitive groups comes as no surprise. They write:</p> <table> <tbody> <tr class="data"> <td id="" align="left" valign="top" colspan=""></td> </tr> <tr class="data even"> <td id="" align="left" valign="top" colspan=""> <p>The underperformance should be concentrated in insurance (e.g. property loss coverage), and companies within Hotels, Restaurants, Leisure, &amp; Airlines (e.g. based on occupancy / traffic, rising commodity costs), Telecom and Cable (e.g. capital expenditure tied to repair and potentially lower ARPU), and Industrials (e.g. rising input costs, disruption in production and transportation) depending on geographic footprint. The largest outperformers include industries tied to replacing and/or repairing existing capital stock (e.g. Energy Equipment &amp; Services, Communication Equipment, Autos), transportation and logistics (e.g. Distribution, Air Freight, Trading Companies), and construction (Basic Materials and Engineering).</p> </td> </tr> </tbody> </table> <p>As for the overall market, however, they found a median decline of 2% for the S&amp;P 500 

                            
                            
                                  
      
      
      
      
      
      
      
                                  
                                    <span class="quote up bgQuote" data-channel="/quotes/zigman/3870025/realtime" data-bgformat=''><a class="qt-chip trackable" data-fancyId="IndexSPX" href="/investing/index/spx" data-track-mod="MW_story_quote">SPX, <span class="bgPercentChange">+1.39%</span></a></span>

                            
                                  
      
      
      
      
      
      
      
                                         over the seven days before and after a major hurricane landfall since 1965. The overall effect tends to be mitigated by the subsequent pickup in public and private spending, Dubravko wrote (see chart below).</p> 

                            
                            
                                  
      
      
      
      
      
      
      
                                  
                            
                            
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                                         <p>Drilling down to the industry level, the analysts found that in the 10 days before and after major hurricane landfalls since 1995, distributors were the top performer—rising 100% of the time for an average gain of 3.1%. Construction materials were No. 2, rising 80% of the time for a 2.9% average gain.</p> <p> <strong>See:</strong> <a href="/story/richard-bransons-virgin-islands-home-destroyed-by-hurricane-irma-2017-09-07" class="icon none" >President Trump’s and Richard Branson’s Caribbean homes destroyed by Hurricane Irma</a> </p> <p> <strong>Also read</strong>: <a href="/story/feds-dudley-says-hurricanes-harvey-irma-to-give-unfortunate-boost-to-us-economy-2017-09-08" class="icon none" >Fed’s Dudley says hurricanes Harvey, Irma to give ‘unfortunate’ boost to U.S. economy</a></p> <p>On the downside, the independent power producers and energy traders group has risen only 20% of the time and has seen an average fall of 7.9%. That’s in part due to a nearly 31% thumping that the group suffered after Hurricane Ike socked Texas and Louisiana in September 2008.</p> <p>The insurance group has seen an average 2.2% decline, rising only 20% of the time during the landfall period, the analysts found, while industrial conglomerates never rose and have seen an average decline of 2.1%.</p> <p> <strong>Read:</strong> <a href="/story/how-will-the-bond-market-hold-up-against-the-one-two-punch-of-irma-and-harvey-2017-09-08" class="icon none" >How will the bond market hold up against the one-two punch of Irma and Harvey?</a> </p> <p>Insurance companies bounced back Friday, but some shares <a href="/story/hurricane-harvey-is-still-battering-insurance-stocks-and-irma-hasnt-even-touched-land-yet-2017-09-07" class="icon none" >took big hits earlier this week</a> as investors weighed exposure to Harvey and braced for Irma. The PowerShares KBW Property and Casualty Insurance Portfolio ETF 

                            
                            
                                  
      
      
      
      
      
      
      
                                  
                                    <span class="quote up bgQuote" data-channel="/quotes/zigman/81613349/composite" data-bgformat=''><a class="qt-chip trackable" data-fancyId="XNASExchangeTradedFundKBWP" href="/investing/fund/kbwp" data-track-mod="MW_story_quote">KBWP, <span class="bgPercentChange">+0.90%</span></a></span>

                            
                                  
      
      
      
      
      
      
      
                                         jumped 3.7% Friday, taking some of the sting out of its recent fall but still declined 3.8% for the week. </p> 

                            
                            
                                  
      
      
      
      
      
      
      
                                  
                            
                            
                                  
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    <div id="rates-nav" class="tabs">
            <div class="rates-nav-item tab needsCharts " data-page="ratesMortgage">Mortgage</div>
            <div class="rates-nav-item tab needsCharts " data-page="ratesEquity">Equity</div>
            <div class="rates-nav-item tab needsCharts selected" data-page="ratesSavings">Savings</div>
            <div class="rates-nav-item tab needsCharts " data-page="ratesAuto">Auto</div>
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    <div id="rates-sections" class="tabPages">
            <div class="bankrates-section rates-section page ratesMortgage ">
                <ol>
                        <li data-ticker="BR2_ZZM4">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=4&amp;loan=650000" rel="nofollow" target="_blank">30 yr fixed Jumbo</a></div>
                            <div class="bankrates-value">4.5%</div>
                        </li>
                        <li data-ticker="BR2_ZZM1">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=1" rel="nofollow" target="_blank">30 yr fixed</a></div>
                            <div class="bankrates-value">4.34%</div>
                        </li>
                        <li data-ticker="BR2_ZZM2">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=2" rel="nofollow" target="_blank">15 yr fixed</a></div>
                            <div class="bankrates-value">3.66%</div>
                        </li>
                        <li data-ticker="BR2_ZZM388">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=388" rel="nofollow" target="_blank">10 yr fixed</a></div>
                            <div class="bankrates-value">3.57%</div>
                        </li>
                        <li data-ticker="BR2_ZZR216">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=216" rel="nofollow" target="_blank">30 yr fixed refi</a></div>
                            <div class="bankrates-value">4.31%</div>
                        </li>
                        <li data-ticker="BR2_ZZR215">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=215" rel="nofollow" target="_blank">15 yr fixed refi</a></div>
                            <div class="bankrates-value">3.62%</div>
                        </li>
                        <li data-ticker="BR2_ZZM6">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=6" rel="nofollow" target="_blank">5/1 ARM</a></div>
                            <div class="bankrates-value">4.04%</div>
                        </li>
                        <li data-ticker="BR2_ZZR219">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/partners/funnel/mortgage-rates.aspx?pid=p:mkw&amp;prods=219" rel="nofollow" target="_blank">5/1 ARM refi</a></div>
                            <div class="bankrates-value">4.04%</div>
                        </li>
                </ol>
                <span class="rates-footer">National averages from <a href="http://www.bankrate.com" target="_blank">Bankrate.com</a></span>
            </div>
            <div class="bankrates-section rates-section page ratesEquity ">
                <ol>
                        <li data-ticker="BR2_ZZK437">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=437" rel="nofollow" target="_blank">$30K HELOC</a></div>
                            <div class="bankrates-value">3.42%</div>
                        </li>
                        <li data-ticker="BR2_ZZK507">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=507" rel="nofollow" target="_blank">$50K HELOC</a></div>
                            <div class="bankrates-value">3.52%</div>
                        </li>
                        <li data-ticker="BR2_ZZK458">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=458" rel="nofollow" target="_blank">$75K HELOC</a></div>
                            <div class="bankrates-value">3.42%</div>
                        </li>
                        <li data-ticker="BR2_ZZK570">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=570" rel="nofollow" target="_blank">$100K HELOC</a></div>
                            <div class="bankrates-value">3.52%</div>
                        </li>
                        <li data-ticker="BR2_ZZK438">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=438" rel="nofollow" target="_blank">$30K Home Equity Loan</a></div>
                            <div class="bankrates-value">5.14%</div>
                        </li>
                        <li data-ticker="BR2_ZZK506">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=506" rel="nofollow" target="_blank">$50K Home Equity Loan</a></div>
                            <div class="bankrates-value">4.84%</div>
                        </li>
                        <li data-ticker="BR2_ZZK457">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=457" rel="nofollow" target="_blank">$75K Home Equity Loan</a></div>
                            <div class="bankrates-value">4.84%</div>
                        </li>
                        <li data-ticker="BR2_ZZK568">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/home-equity/?pid=p:mkw&amp;prods=568" rel="nofollow" target="_blank">$100K Home Equity Loan</a></div>
                            <div class="bankrates-value">4.72%</div>
                        </li>
                </ol>
                <span class="rates-footer">National averages from <a href="http://www.bankrate.com" target="_blank">Bankrate.com</a></span>
            </div>
            <div class="bankrates-section rates-section page ratesSavings selected">
                <ol>
                        <li data-ticker="BR2_ZZD19">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/cd-investments/cd-investment-results.aspx?pid=p:mkw&amp;prods=19" rel="nofollow" target="_blank">5 yr CD</a></div>
                            <div class="bankrates-value">1.56%</div>
                        </li>
                        <li data-ticker="BR2_ZZD16">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/cd-investments/cd-investment-results.aspx?pid=p:mkw&amp;prods=16" rel="nofollow" target="_blank">2 yr CD</a></div>
                            <div class="bankrates-value">0.99%</div>
                        </li>
                        <li data-ticker="BR2_ZZD15">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/cd-investments/cd-investment-results.aspx?pid=p:mkw&amp;prods=15" rel="nofollow" target="_blank">1 yr CD</a></div>
                            <div class="bankrates-value">0.86%</div>
                        </li>
                        <li data-ticker="BR2_ZZD34">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/savings/savings-results.aspx?pid=p:mkw&amp;prods=34" rel="nofollow" target="_blank">MMA $10K+</a></div>
                            <div class="bankrates-value">0.27%</div>
                        </li>
                        <li data-ticker="BR2_ZZD36">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/savings/savings-results.aspx?pid=p:mkw&amp;prods=36" rel="nofollow" target="_blank">MMA $50K+</a></div>
                            <div class="bankrates-value">0.37%</div>
                        </li>
                        <li data-ticker="BR2_ZZD33">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/savings/savings-results.aspx?pid=p:mkw&amp;prods=33" rel="nofollow" target="_blank">MMA Savings</a></div>
                            <div class="bankrates-value">0.29%</div>
                        </li>
                        <li data-ticker="BR2_ZZD37">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/savings/savings-results.aspx?pid=p:mkw&amp;prods=37" rel="nofollow" target="_blank">MMA Savings Jumbo</a></div>
                            <div class="bankrates-value">0.42%</div>
                        </li>
                </ol>
                <span class="rates-footer">National averages from <a href="http://www.bankrate.com" target="_blank">Bankrate.com</a></span>
            </div>
            <div class="bankrates-section rates-section page ratesAuto ">
                <ol>
                        <li data-ticker="BR2_ZZA73">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=73" rel="nofollow" target="_blank">60 Mo Used Car</a></div>
                            <div class="bankrates-value">3.73%</div>
                        </li>
                        <li data-ticker="BR2_ZZA74">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=74" rel="nofollow" target="_blank">48 Mo Used Car</a></div>
                            <div class="bankrates-value">3.73%</div>
                        </li>
                        <li data-ticker="BR2_ZZA42">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=42" rel="nofollow" target="_blank">36 Mo Used Car</a></div>
                            <div class="bankrates-value">3.81%</div>
                        </li>
                        <li data-ticker="BR2_ZZA311">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=311" rel="nofollow" target="_blank">72 Mo New Car</a></div>
                            <div class="bankrates-value">3.62%</div>
                        </li>
                        <li data-ticker="BR2_ZZA41">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=41" rel="nofollow" target="_blank">60 Mo New Car</a></div>
                            <div class="bankrates-value">3.73%</div>
                        </li>
                        <li data-ticker="BR2_ZZA39">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=39" rel="nofollow" target="_blank">48 Mo New Car</a></div>
                            <div class="bankrates-value">3.58%</div>
                        </li>
                        <li data-ticker="BR2_ZZA278">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=278" rel="nofollow" target="_blank">60 Mo Auto Refi</a></div>
                            <div class="bankrates-value">2.86%</div>
                        </li>
                        <li data-ticker="BR2_ZZA276">
                            <div class="bankrates-display"><a href="http://www.bankrate.com/funnel/auto/?pid=p:mkw&amp;prods=276" rel="nofollow" target="_blank">36 Mo Auto Refi</a></div>
                            <div class="bankrates-value">2.52%</div>
                        </li>
                </ol>
                <span class="rates-footer">National averages from <a href="http://www.bankrate.com" target="_blank">Bankrate.com</a></span>
            </div>
            <div id="creditrates-section" class="rates-section page ratesCreditCards ">
                <table>
                    <thead>
                        <tr>
                            <td></td>
                            <td>Avg. APR</td>
                            <td>Last Week</td>
                            <td>6 Months</td>
                        </tr>
                    </thead>
                    <tbody>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/low-interest-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Low Interest</a></td>
                                <td class="apr">13.14%</td>
                                <td class="apr">13.09%</td>
                                <td class="apr">12.87%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/business-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Business</a></td>
                                <td class="apr">13.93%</td>
                                <td class="apr">13.93%</td>
                                <td class="apr">13.68%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/balance-transfer-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Balance Transfer</a></td>
                                <td class="apr">15.63%</td>
                                <td class="apr">15.64%</td>
                                <td class="apr">15.36%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/student-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Student</a></td>
                                <td class="apr">15.92%</td>
                                <td class="apr">15.92%</td>
                                <td class="apr">15.64%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/airline-miles-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Airline</a></td>
                                <td class="apr">16.41%</td>
                                <td class="apr">16.47%</td>
                                <td class="apr">16.06%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/rewards-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Reward</a></td>
                                <td class="apr">16.51%</td>
                                <td class="apr">16.50%</td>
                                <td class="apr">16.22%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/cash-back-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Cash Back</a></td>
                                <td class="apr">16.67%</td>
                                <td class="apr">16.61%</td>
                                <td class="apr">16.37%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/prepaid-debit-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Instant Approval</a></td>
                                <td class="apr">18.82%</td>
                                <td class="apr">18.80%</td>
                                <td class="apr">18.57%</td>
                            </tr>
                            <tr>
                                <td class="name"><a href="http://www.bankrate.com/credit-cards/bad-credit-cards.aspx?pid=mkw" rel="nofollow" target="_blank">Bad Credit</a></td>
                                <td class="apr">23.62%</td>
                                <td class="apr">23.62%</td>
                                <td class="apr">23.46%</td>
                            </tr>
                    </tbody>
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                <span class="rates-footer">Source: <a href="http://creditcards.com/?aid=fb5dc909" target="_blank">CreditCards.com</a></span>
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