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As residents of the Midwest and Mid-Atlantic United States brace for a historic heat wave, here are 10 stocks that could be impacted by June’s extreme weather.
The Forecast: According to AccuWeather, several major population centers will see extreme heat this week.
Chicago is forecasted to experience temperatures exceeding 90 degrees through Friday, similar to the heatwaves seen in 2022 and 2023. No rain is expected for the week.
Fellow Midwestern cities Detroit, Cleveland and Cincinnati will see temperatures in the mid-to-high 90s through Friday.
On the East Coast, temperatures are expected to be even higher. New York City is forecasted to reach the mid-90s, Philadelphia will climb to the high 90s, and Washington D.C. is predicted to top out at over 100 degrees.
Affected Stocks: Temperatures have increased steadily in recent years. The phenomenon, widely attributed to the effects of climate change, has affected companies in various sectors.
Several large manufacturers of air conditioners in the U.S. typically see a surge in sales following periods of extreme weather. This trend is unsurprising given the increased demand for cooling solutions during heatwaves. Carrier Global Corp (NYSE:CARR), Trane Technologies PLC (NYSE:TT), Lennox International Inc (NYSE:LII) and Watsco Inc (NYSE:WSO) are among the largest HVAC manufacturers.
Lowe’s Companies Inc (NYSE:LOW) and Home Depot Inc (NYSE:HD) are the two largest companies in home improvement; the companies sell a wide range of products including fans and air conditioners.
Generac Holdings Inc (NYSE:GNRC) is a manufacturer of backup power generation for residential, commercial and industrial purposes. Demand for generators is likely to rise after extreme weather events, such as heatwaves, hurricanes, or floods, due to the increased need for backup power during outages.
Edgewell Personal Care Co (NYSE:EPC) manufactures sunscreen under the brands Banana Boat and Hawaiian Tropic, two of the most popular names in the United States.
Attendance at theme parks could wane during prolonged stretches of extreme heat. Walt Disney Co (NYSE:DIS) and Six Flags Entertainment Corp (NYSE:SIX) are two of the largest amusement park operators in the U.S.
Image generated using artificial intelligence via Midjourney.
