Diamonds and Dogs
The insurance stocks are bouncing back. Travelers (TRV) is leading the Dow higher on 9/11 up nearly 3% as Hurricane Irma, while very severe and destructive, was less damaging than feared. Hurricane Irma has now been downgraded to a tropical storm. However, Irma could still be in the top 5 for most costly U.S. hurricanes.
Profit-taking in Home Depot (HD) and Lowes (LOW). Home Depot and Lowes will be very busy in Texas and Florida for the next six months or more. Lowe's has shipped more than 1,100 truckloads of critically needed supplies to the Houston area. Lowe's also shipped emergency supplies into Florida in advance of Hurricane Irma. Lowe's shipped more than 1,600 truckloads of hurricane supplies to Florida in the last two weeks. Not sure if there is enough plywood to go around.