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☆ These are the most oversold stocks during a harsh September for the market
▼ + stars: | 2023-09-29 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Conversely, a reading lower than 30 typically means a stock is oversold and could be a signal of a possible buying opportunity. MGM YTD mountain MGM in 2023 Realty Income is the most oversold company in the S & P 500, scoring the lowest RSI of the lot at 5.19. Other oversold stocks include Boeing , discount retailer Dollar General and cloud software company Salesforce . Travelers Companies is the most overbought stock in the broad-based index with an RSI of 79.89. Big-name health-care and insurance company UnitedHealth Group , with a market cap of $469.26 billion, has a 14-day RSI of 75.54.

Persons: Wells Fargo, Chubb Organizations: Nasdaq, Dow Jones, CNBC Pro, MGM Resorts, MGM, Culinary Workers Union, Wynn Resorts, Wall Street, Netflix, Hollywood, Boeing, Dollar, Travelers Companies, . Insurance, UnitedHealth, Pharmaceutical, Humana, Arch Capital Group Locations: Vegas

☆ Millennials looking to buy a home are worrying about climate risk. They're not wrong.
▼ + stars: | 2023-09-25 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. AdvertisementAdvertisementWhile millennials logged higher concern over climate issues than their Gen Z counterparts, it turns out millennials' budget is often putting them in the path of climate risk. Zillow found 36% of millennial buyers were considering moving to an area with "greater climate risk'" compared with 19% of Gen Zers. The climate crisis puts coastal cities in Florida at a higher risk of flooding.

Persons: Zillow, Millennials, millennials, Zers, Manny Garcia, Zillow's, Garcia, Bob Stephens, Stephens, Jeffrey Greenberg, Jeremy Porter, Todd Bevington Organizations: Service, Carolinas, Insurance, First Street Foundation, AP Locations: Texas , Florida, Florida, California, Louisiana, Lahaina, Vermont, Maine, New York, Asheville , North Carolina

☆ How insurance companies are battered by hurricane season and climate change
▼ + stars: | 2023-09-24 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Insurance companies are in a tough spot with this year's stronger-than-average hurricane season, while climate-related perils continue to push catastrophe losses higher. Adding fuel to the industry's woes is the higher frequency of secondary perils, such as wildfires and flooding, due to climate change. These increased occurrences have been slowly adding to primary insurers' catastrophe losses and limiting profitability. While the industry is currently in the middle of peak hurricane season, insurance stocks typically rebound when the size of the insured losses become apparent or are announced by the companies, according to Piper Sandler. Insurance stocks tend to fall initially as big hurricanes near landfall and the likely extent of damage is appraised.

Persons: Piper Sandler, Paul Newsome, Newsome, Chubb, Bob Huang, Morgan Stanley, Huang Organizations: Atlantic, . Insurance, Insurance, Allstate, American International Group, Progressive, Universal Insurance Holdings, Everest Re Locations: Florida, Maui, Hawaii, California

Here's a look at what California Insurance Commissioner Ricardo Lara proposed and how it would affect the state's insurance market:WHAT ARE THE RULES FOR INSURANCE COMPANIES? It said insurance companies had to get permission from the state Department of Insurance before they could raise their rates. When setting their rates, insurance companies cannot consider current or future risks to a property. Insurance companies also buy insurance themselves, a process known as reinsurance. The process includes lots of time for insurance companies and consumer groups to give their input.

Persons: Ricardo Lara, They've, Lara Organizations: California, of Insurance, Insurance, Companies, California Department of Forestry, Protection . Insurance, . Insurance, FAIR, Consumer Locations: SACRAMENTO, Calif, California, ratepayers

Florida and California homeowners have been dealing with high property insurance premiums due to severe weather. Louisiana is now the third-most expensive state for insurance according to Insurify , an insurance comparison website. The average annual premium for Louisiana is $5,353, which is three times the national average homeowners insurance cost. Car insurance and flood insurance premiums are also rising within the state. Louisiana has the least affordable car insurance rates in the nation, according to the Insurance Research Council .

Persons: Mark Friedlander Organizations: Farm, Allstate, Service, Privacy, Insurance, Institute ., Insurance Research Locations: Florida, California, Louisiana, Wall, Silicon, Institute . Florida, Louisiana Louisiana, . Louisiana, Hawaii —

The pace of new construction slowed in August amid high mortgage rates and weakening demand, the federal government reported on Tuesday. Housing starts fell 11.3% in August to an annual rate of 1.28 million, the lowest since the summer of 2020. Builders typically pull permits in anticipation of demand, but housing starts occur when lots are ready to be cleared following deposits on future purchases. “The combination of high interest rates, high pricing, and limited inventory has continued to plague the housing market. “And on the supply-side front, builders continue to grapple with shortages of construction workers, buildable lots and distribution transformers, which is further adding to housing affordability woes.

Persons: ”, Kelly Mangold, Alicia Huey, Ksenia Potapov Organizations: Housing, Real Estate Consulting, National Association of Home Builders, First American Financial Corp, “ Locations: Birmingham , Alabama

☆ Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates
▼ + stars: | 2023-09-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. Current sales conditions fell 6 points to 51, and sales expectations in the next six months also dropped 6 points to 49. Builders cite weaker affordability due to higher mortgage rates. While builders are still benefiting from the lack of supply on the existing sales market, they are also facing hurdles other than higher interest rates.

Persons: Robert Dietz, NAHB's, Alicia Huey Organizations: National Association of Home Builders, Builders Locations: Wells Fargo, Birmingham , Alabama, Midwest, West

Brereton C. Jones, a Republican turned Democrat who led efforts to improve health care and strengthen ethics laws during his one term three decades ago, has died, Gov. He moved to Kentucky and switched parties, first winning election as lieutenant governor before running for and winning the state's highest elected office. Once in office, Jones got the legislature to create an ethics commission for executive branch officials and employees. But despite his frequent speeches about ethics, Jones seemed to many to have a blind spot when it came to his own finances and business dealings. The major initiative of Jones’ administration was access to health care and controlling the cost of health coverage.

Persons: —, Brereton C, Jones, Andy Beshear, ” Beshear, “, ”, I’ve, “ I’m, Republican Larry Hopkins Organizations: — Former Kentucky Gov, Republican, Delegates, “, Airdrie Stud Locations: FRANKFORT, Ky, West Virginia, Kentucky

For investors looking to rake in profit from the recent oil rally, here are some companies that are poised to benefit off of higher crude prices. Higher oil prices could add to inflationary pressure and feed central bankers' decisions on interest rates. Higher correlation between oil prices means good news for some companies, however. The 10 most positively correlated stocks to oil are energy names, which tend to rise when oil prices get a boost. Molson and Monster have slipped 5.6% and 2.2%, respectively, during the current quarter, while PepsiCo is off more than 5%.

Persons: Brent, WTI, Russell, Molson Coors Organizations: West Texas, CNBC, Oil, Diamondback Energy, Devon Energy, APA, Diamondback, Halliburton, Insurance, CCC Intelligent Solutions Holdings, . Beverage, Molson, Monster, PepsiCo, Bank of Canada, Manhattan Associates, Cadence Design Systems, chocolatier Hershey Locations: Saudi Arabia, Russia, Devon, American

Sometimes, I've made my January mortgage payment in December to deduct the interest for that year. So heading into fall, I review my budget, income, and expenditures and target areas where I can cut back. Do an insurance reviewI check all insurance policies: homeowners insurance, renters insurance, car insurance (when I owned a car), and health. This is a great time to do a comprehensive insurance review. Bonus: Plan for an extra mortgage payment and charitable contributionsIf you can, plan to make your January mortgage payment in December.

Persons: I've, it's, TransUnion —, transpire, you'll Organizations: Service Locations: Wall, Silicon

☆ Warren Buffett dumps stock, regulators open probes as claims of abuse and fraud mount against a top Globe Life agency
▼ + stars: | 2023-08-31 | by ( Susan Antilla | ) www.businessinsider.com time to read: +22 min

Five other current or former agents confirmed to Insider that some Arias agents wrote up policies in the names of fictional people or people who were dead. Amy Williamson, an attorney who represents dozens of current and former Arias agents in civil claims, said she received an inquiry from a US attorney's office. With regard to Insider's specific questions about Globe, AIL, and Arias, she said, "It is the Company's policy not to comment." Lusty asked questions about Russin's campaign of aggressive social-media posts since Zinsky filed suit, Williamson said, including posts about his gun purchases. Since Zinsky filed suit against him, Russin has made a string of threatening social media posts featuring firearms.

Persons: Simon Arias, Warren Buffett, Berkshire Hathaway, Arias, Trina Orlando, Michelle Billotte, Billotte, she'd, Orlando, Nancy Andrews, William McKee, McKee, Brett Hambright, Amy Williamson, AIL, Renee Zinsky, Michael Russin, Russin, Jennifer Haworth, Benjamin Webb, Chris Williams, Natalie Price, dialers, DocuSign, Scott Dehning, Steven Greer, Joel Scarborough, Dehning, Haworth, Greer, Zinsky, Abeni Mayfield, Mayfield, Columbia , Maryland Rosem Morton, Abeni Mayfield Orlando, texted, Kailey Andrasko, propositioned, Russin texted, he'd, Kailey, Williamson, Anne Hilbert, Hilbert, Debbie Gamble, Zinsky's, Webb, didn't, interrogatories, Jonathan Lusty, Lusty, I'm Organizations: Arias, . Insurance, Wexford, Berkshire, Globe, Life, American, Arias Organization, Arias Agency, Pennsylvania Department of Insurance, Department of Insurance, Department, Pennsylvania, Globe Life, Texas Rangers, Dallas Cowboys, AIL, Organization, Russin, Insider Orlando, Caesars, Employment, Commission, Caesars Palace, Russin's, Consulting, Court, Western District of Pennsylvania Locations: Wexford , Pennsylvania, Wexford, Morgantown , West Virginia, AIL, Michigan, Scarborough, Columbia , Maryland, Las Vegas, Stockholm, Orlando, Morgantown, Mayfield's, Western District, Pittsburgh

☆ The looming crisis that's going to crush homeowners from coast to coast
▼ + stars: | 2023-08-23 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +16 min

To maintain profitability, insurance companies have to take in more in monthly premium payments from customers than they pay out in damage claims. This has prompted insurance companies to back out of certain markets or pressure states to raise caps on premiums. Without robust rate caps such as those in California, insurance costs have risen by over 200% while DeSantis has been in office. He also signed legislation in December that protects insurance companies from liability claims and disincentivizes homeowners from filing claims to begin with. Despite these policies, insurance prices have continued to go up and insurers have continued to flee the market.

Persons: Cinda Larimer, Larimer's, Larimer, Anthony Roach, Larimer's who's, I've, Roach, Chubb, Justin Sullivan, Benjamin Keys, Anita Waters, Waters, Ron DeSantis, DeSantis, Desantis, Hurricane Ian, Dale, Deb Weideling, they've, Keys, Philip Mulder, Jeffrey Greenberg, Jeff Goodell, Xavier Cortada, I'm, Cortada, we're, Betsy, Cinda Larimer wasn't, , haven't, Taylor Dorrell Organizations: Navy, Insurance, Rush, Allstate, American International Group, University of Pennsylvania's Wharton School, US Army Corps of Engineers, . Farmers Insurance, AAA, Washington Post, National Bureau of Economic Research, US Treasury, Universal, Getty, Miami, Dakotas, Nationwide, Penn, National Flood Insurance, FAIR, Bay Area Locations: Paradise , California, Paradise, Sacramento, California, , California, . State, Florida, South Carolina, South Florida, Fort Myers Beach, Hurricane, In Miami, States, Louisiana , Oregon, Colorado, Hawaii, Coast, Minnesota, Midwest, Bay, Columbus , Ohio

☆ What ARM's expected debut means for the IPO market and SoftBank
▼ + stars: | 2023-08-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Its debut will be a big deal for an IPO market that's been in the doldrums since 2022, but the company's listing has big implications for SoftBank as well. SoftBank agreed to acquire Arm in 2016 for $32 billion, which at the time was the biggest-ever purchase of a European technology company. The unit also swung to a 9.5 billion yen loss, having made a profit of 29.8 billion yen in the same period a year earlier. SoftBank said its Vision Fund booked an investment gain of 159.8 billion yen, its first gain in five consecutive quarters. In July, the company led a $65 million investment in U.K. insurance technology company Tractable.

Persons: Son, Tomohiro Ohsumi, SoftBank, It's, Rene Haas, Haas, Nvidia SoftBank, Arm, Grace Hopper, Didi, Uber, Yoshimitsu Goto, Leswing Organizations: SoftBank Group Corp, ARM Holdings, Bloomberg, Getty, Apple, reining, Acorn Computers, Acorn, Machines, VLSI Technology, CNBC, ARM, Nvidia, Vision, Investors, AMD, Vision Fund Locations: Tokyo, Cambridge, England, Switzerland, European, Europe, U.S, London, New York

My friends and I aren't sure how the climate crisis will affect our retirement, only that it will. Another friend replied, "Well, the good thing about climate change is that it gives me a reason to move." The climate crisis will also affect homeowner's insurance. It's hard to know where to retireAs for where to settle down in my retirement, the climate crisis throws in another wrench. While a lot remains unknown about the effects of climate change, I've resolved to stick to a retirement savings plan.

Persons: that's, it's, It's, haven't Organizations: Service Locations: Wall, Silicon, West Coast, Pacific Northwest , Utah, Florida, Nashville , Tennessee, California, Southern California, Arizona

☆ European markets lower as investors weigh UK wage growth and Russia rate hike
▼ + stars: | 2023-08-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

European markets were lower Tuesday as investors weigh data from the U.K. and Russia. The pan-European Stoxx 600 index was down 0.7% in morning trading, with sectors mostly in negative territory. Insurance stocks and travel and leisure led losses, each with a 1% downturn, while retail bucked the trend with a 0.2% uptick. Marks & Spencer drove retail gains after the group announced strong results and adjusted its annual outlook to the upside, prompting shares to increase 8%.

Persons: Spencer Organizations: Insurance Locations: Russia

☆ Why this landmark cardiac study means a bigger market for Lilly's blockbuster weight loss drug
▼ + stars: | 2023-08-09 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

A landmark study of the cardiovascular benefits of weight loss drug Wegovy is being seen as a pivotal step toward broadening access to these drugs. The drug, also known as tirzepatide, is expected to be approved for weight loss by the Food and Drug Administration by year-end. Notably, Medicare does reimburse obese patients for weight loss surgery, but Mounjaro has been able to help patients realize an average weight loss that approaches the typical success of bariatric procedures. If CMS is able to reimburse patients for weight loss treatment that would significantly increase access, boosting sales. "This is the first time a weight [loss] medicinal intervention has shown to have cardiovascular risk reduction.

Persons: enrollees, Eli Lilly, Lilly, Akash Tewari, NVO, Tewari, Wells, Mounjaro, Mohit Bansal, Robert Califf, Goldman Sachs, Chris Shibutani, Shibutani, Goldman, Refinitiv, Morgan Stanley, comorbidities, Bansal Organizations: Nordisk's Ozempic, Centers for Disease Control, Food and Drug Administration, Jefferies, Medicare, Services, GLP, STAT, Goldman, Lilly, Novo Nordisk, BMI, Novo Locations: U.S, GLP, Tuesday's

☆ High interest rates make these guaranteed-income products attractive. Here's what to know about fixed annuities
▼ + stars: | 2023-08-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Americans have flocked to annuities for guaranteed income over the past year, as interest rates rose and investors looked for safety amid the market turbulence and recession concerns. One of the popular products has been fixed-rate deferreds which — as the name implies — provide a fixed rate for a specific period of time. "So that opportunity to get a more competitive rate on a fixed annuity is not an indefinite window." Multiyear guaranteed annuities Traditional fixed annuities typically guarantee the rate for a portion of the contract, while a multiyear guaranteed annuity, or MYGA, has a rate of return that is guaranteed over the duration of the contract. When buying a fixed annuity, investors need to figure out the term that works best for them, said Limra's Hodgens.

Persons: we've, Bryan Hodgens, Doug Ornstein, David Blanchett, TIAA's Ornstein, Ornstein, Limra's, " Blanchett Organizations: TIAA Wealth Management, Federal Deposit Insurance Corporation, guaranty, DC Solutions, Insurance, TIAA Institute, Social Security Locations: Connecticut

☆ Climate change puts sovereigns at downgrade risk, study finds
▼ + stars: | 2023-08-06 | by ( Mark John | ) www.reuters.com time to read: +4 min

Rising debt costs would be just one extra facet of the overall economic damage which climate change is already causing. While developing nations with lower credit scores are seen hit hardest by the physical effects of climate change, nations with the highest ranking credit scores were likely to face more severe downgrades simply because they have furthest to fall. The findings come as regulators around the world seek to better understand just how much damage to economies and the global financial system to expect from climate change. A European Central Bank paper last year urged greater clarity in how those risks were being built into credit ratings. S&P Global Ratings has published the environmental, social and governance (ESG) principles used in its credit ratings which include reference to the risk of economic damage from climate change and the costs associated with mitigating it.

Persons: Heatwaves, Patrycja Klusak, Klusak, Fitch, Mark John, Hugh Lawson Organizations: Management, University of East Anglia, UEA, University of Cambridge, Insurance, Allianz, Cambridge, Central Bank, Thomson Locations: Paris, China, India, United States, Canada, Cambridge

☆ Berkshire Hathaway swings to a profit, boosted by massive investment gains
▼ + stars: | 2023-08-05 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

Operating earnings totaled $10 billion in the second quarter, a 6.6% gain from the same period last year. Insurance underwriting and higher investment income helped boost Berkshire’s operating profits. The company posted net income of $35.9 billion after a loss of $43.6 billion in the second quarter of 2022. Berkshire posed $25.9 billion in investment gains last quarter, marking a significant turnaround from a year earlier, when its investments lost $53 billion in the second quarter alone. Insurance investment income increased to $2.3 billion from $1.9 billion this time last year.

Persons: Berkshire Hathaway, Warren Buffett Organizations: New, New York CNN, Berkshire, BNSF Locations: New York, Berkshire, United States, BHE

After our car insurance premiums doubled, we looked at how much each provider would cost our family. See Insider's picks for the best cheap car insurance for teenagers »1. I got quotes from multiple carriers and eventually went with Allstate's car insurance, as they offered the best bundle with our homeowners insurance policy. Others were more punishing — the Liberty Mutual car insurance quote went up by $140 a month. Progressive went up by $116, though they offer a teen driver discount for customers of a year or more.

Persons: I'm Organizations: Service, . Insurance, Tacoma, Liberty Mutual, Progressive Locations: Wall, Silicon, —

☆ These are the most overweighted and underweighted stocks by socially conscious funds, according to Bernstein
▼ + stars: | 2023-08-02 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A handful of the most well-known technology stocks are being somewhat ignored by socially conscious funds, according to Bernstein. Big technology names including Apple , Amazon , Meta , Microsoft and Alphabet were among the most underweighted stocks by North American funds that consider environmental, social and corporate governance factors when screening investment ideas. Big Tech has roared back to life this year, coming off 2022's selloff as investors bet on a better interest rate environment. Here are the 10 most underweighted stocks by North American funds: On the flip side, a wide swath of stocks accounted for the most held, relatively. Barclays analyst Craig Rye said the stock could actually benefit if hurricane season is worse than was previously expected.

Persons: Bernstein, Danaher, Craig Rye, Rye, —, Michael Bloom Organizations: Apple, Meta, Microsoft, North, Big Tech, Software, Nvidia, Insurance, Barclays, Fisher, Deere

☆ Humana calms Wall Street's jitters with quarterly results, clearing way for stock to run higher
▼ + stars: | 2023-08-02 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Humana (HUM) reported second-quarter results Wednesday that were much better than feared, sending its stock price soaring and giving us the confidence to stick with the jilted health insurer. Not only did second-quarter numbers top expectations, but management offered assuring commentary on the worrisome medical-cost trends that torpedoed its stock price in mid-June . That one-two punch explains the more-than-5% jump in Humana shares, pushing the stock to its highest levels since June 14. Outlook Humana raised its outlook for 2023 individual Medicare Advantage membership growth by 50,000 to roughly 825,000 members, representing an 18% increase compared with enrollment levels at the end of 2022. Capital allocation Humana CFO Susan Diamond said the company has capitalized on the "recent dislocation" in its stock price — i.e.

Persons: MLR —, Wall, Bruce Broussard, —, Broussard, Susan Diamond, Humana, Jim Cramer's, Jim Cramer, Jim, Ty Wright Organizations: Revenue, Humana, Club, UnitedHealth, Management, Insurance, CNBC, Bloomberg, Getty Locations: Louisville , Kentucky

☆ This could be the right time to buy these 'growth at a reasonable price' standouts, BMO says
▼ + stars: | 2023-07-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Chief investment strategist Brian Belski said in a July 26 note to clients that "growth at a reasonable price" stocks should be key holdings of the riskier portion of an investment portfolio. The so-called "GARP" stocks tend to have characteristics of both growth and value factors. "We have found through our work that GARP strategies tend to perform much better over longer periods than singularly focused growth or value strategies," Belski wrote. BMO defines "GARP" stocks as those with forward-looking price-to-earnings and price-to-earnings-growth ratios below the median of the S & P 500, while projected earnings growth is greater than the median S & P 500 value. As optimism about the U.S. economy has improved, the gap between earnings growth expectations for GARP companies and the broader market has shrunk.

Persons: Brian Belski, Belski, haven't, Michael Bloom Organizations: BMO Capital Markets, BMO, DXC Technology, PayPal, Schlumberger, Wall, Insurance Locations: U.S

☆ Bullish developments for three stocks across sectors — and our take, too
▼ + stars: | 2023-07-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Morgan Stanley analysts believe the market for obesity drugs is even larger than initially expected, a finding that aligns with our rosy outlook on Eli Lilly (LLY). The news: Obesity drugs could generate annual sales up to $77 billion in 2030, Morgan Stanley said Friday, a nearly 43% increase to the firm's previous forecast. Insurance reimbursement for obesity drugs has spread quicker than Morgan Stanley expected, which helped prompt the firm to update its multiyear sales outlook. However, there's been some concern that insurance companies would be hesitant to cover this new class of obesity drugs, which carry hefty price tags, along with side effects like nausea and vomiting. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Morgan Stanley, Eli Lilly, LLY, Lilly, Wegovy, Eli Lilly's, Morgan Stanley's, Jim Cramer's, we've, there's, Sartorius, Danaher, We've, We're, Lisa Su, Su, TSM, Apple's, There's, Jim Cramer, Jim, Cristina Arias Organizations: Club, Novo Nordisk, Wall, AMD, Devices, Club holding's, Nikkei Asia, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Intel, CNBC, Company, Pharmaceutical Locations: U.S, Japan, Tokyo, Taiwan, China, Beijing, Arizona, Alcobendas, Madrid, Spain

☆ Third quarter is a key time for extreme weather events. Here's what to expect for exposed stocks
▼ + stars: | 2023-07-04 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

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

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