HURRICANE FRANCES

[Rod]

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Hurricane Frances will affect the market. It's just a matter of when and to what extent. If it hits Florida, which is looking extremely likely,it is expected to top Hurricane Andrew's $20B in damages making it the costliest storm in US history.

So be prepared- landfall will be this weekend.

http://money.cnn.com/2004/09/01/news/economy/hurricane_frances/index.htm?cnn=yes

 

[Timer]

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Rod wrote:

Hurricane Frances will affect the market.

So, Rod, assuming you are right. Where would you put your money?

Just askin.

 

[Rod]

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Timer wrote:

Rod wrote:

Hurricane Frances will affect the market.

So, Rod, assuming you are right. Where would you put your money?

Just askin.

Before Hurricane Frances was a threat, I went 100% G. So, I'm staying.

 

[Rod]

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From: http://money.cnn.com/2004/09/02/markets/stockswatch/index.htm?cnn=yes

"Investors could also be keeping an eye on the weather, specifically updates on Hurricane Frances, which is poised to hit the U.S. coast sometime late Friday or Saturday.

If the storm were to hit a densely populated area such as the Miami-Fort Lauderdale-West Palm Beach corridor in South Florida with its current wind strength, it could produce the greatest insured losses of any U.S. storm."

 

[Rod]

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Wal-Mart posts weak sales


No. 1 retailer says Hurricane Charley, late Labor Day hurt back-to-school; guides lower on earnings.
September 2, 2004: 8:37 AM EDT



NEW YORK (CNN/Money) - Wal-Mart said Thursday that August sales at stores open at least a year came in at the low end of its forecast, citing Hurricane Charley and a late Labor Day that hurt back-to-school business.

http://money.cnn.com/2004/09/02/news/economy/retail_sales/index.htm?cnn=yes

And they thought Charley was bad... just wait until Frances finishes roaring through! I'm sure glad I sold all my WMT stock a few days ago. They haven't been fairing too well lately.

But hey, my HD (Home Depot) stock loves these hurricanes!!!

 

[Rod]

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More fall-out to expect from Frances:

"A Labor Department analyst attributed much of last week's gain (unemployment claims)to people seeking benefits in the aftermath of Hurricane Charley, which slammed into south Florida last month.

The analyst said "a little less than half" of the 19,000 increase in claims was due to the storm. Some economists had suspected there could be a hike in claims, as residents finished digging out from the storm and many applied for unemployment aid. However, analysts don't expect Charley to have had much effect on the August employment report due out Friday morning."

http://money.cnn.com/2004/09/02/news/economy/jobless_claims/index.htm?cnn=yes

We'll see what happens.

 

[Guest]

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Are you sure this hurricane will affect the markets that much? Looking back to Aug 13th, Hurrican Charley hit about 4:00pm, the markets stayed pretty much the same as the 13th. On the 13th they had a significant drop from the 12th, but was this because of a sell off prior to Charley touching down? The market seems to be having a good day so far. The following Monday all losses where re-covered and then some.

I'm tempted to get into G over the long weekend, but not sure. I've been right about being in the S fund lately, though some have tried to convince me otherwise. Got an hour and a half to convince me.......

 

[Rod]

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mlk_man wrote:

Are you sure this hurricane will affect the markets that much? Looking back to Aug 13th, Hurrican Charley hit about 4:00pm, the markets stayed pretty much the same as the 13th. On the 13th they had a significant drop from the 12th, but was this because of a sell off prior to Charley touching down? The market seems to be having a good day so far. The following Monday all losses where re-covered and then some.

I'm tempted to get into G over the long weekend, but not sure. I've been right about being in the S fund lately, though some have tried to convince me otherwise. Got an hour and a half to convince me.......

Of course, nothing's for sure! If anything, it'll have more ofan affect on unemployment claims than Charley. Plus, it will most probably become the costliest storm in US history, surpassing that of Andrew.

 

[Guest]

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Yeah, some other things going on too, so I'm out. Moving to 100% G. Finally skeered me....................