The third quarter is a key time for extreme weather events.
An El Niño weather pattern is widely expected for 2023.
"Following three years of La Niña, climate scientists expect 2023 to have El Niño conditions with near-100% certainty given current signals," Karp said in a note to clients last month.
Insurers are also among the stocks to typically move in relation to extreme weather events.
This year should be a fairly typical one for hurricanes, as El Niño is typically linked to a less severe season.
Persons:
Nature, —, Sophie Karp, La, Karp, El, bode, Morgan Stanley, Andrei Stadnik, Stadnik, Matthew Carletti doesn't, hasn't, Jefferies, Yaron Kinar, Brown, Arthur J, Gallagher, Aon, Niño, Generac, Aaron Jagdfeld, Bob Huang, bullish, — CNBC's Michael Bloom
Organizations:
National Oceanic, Atmospheric Administration, Energy, DTE Energy, WEC Energy, CNBC Pro's, WEC, Xcel Energy, Portland General Electric, Edison International, CenterPoint, Southern Company, Duke Energy, Nextera Energy, El, Insurance Australia Group, Suncorp, Arch Capital, Everest Re, Bloomberg, Arch
Locations:
El, Canada, U.S, Gulf, Pacific Northwest, California, Michigan, Avista, Portland, American, Mexico, CenterPoint Energy, Bermuda, Texas