NEW YORK (CNNMoney) -- While the East Coast is preparing for Hurricane Irene, investors are searching for stocks that might benefit from the event.
Long lines are forming in front of Home Depot (Fortune 500) and Lowe's ( , Fortune 500) as people are urged to buy generators and other basic supplies. Shares of Home Depot are up more than 7% over the past week -- more than 300 basis points above the S&P 500 ( ).,
The Shaw Group (Fortune 500) was one of the main beneficiaries from the rebuilding after hurricane Katrina hit in August 2005. Its stock went up more than 50% in the two weeks following the tragic event. It is up more than 3% today.,
Insurance stocks might be affected negatively as those firms could wind up paying billions of dollars in damage claims.
The stock market often discounts in advance widely known and expected events, but the real impact of the hurricane can only be assessed after the event.
Shares of Allstate Corp. (Fortune 500) have taken a drubbing this year, due to the spring storms that spread across the Midwest and Southern states.,
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|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.92%||3.81%|
|15 yr fixed||3.12%||3.03%|
|30 yr refi||3.91%||3.80%|
|15 yr refi||3.11%||3.03%|
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