Thoughts on hurricane Harvey impacting the market?

I'm curious what peoples thoughts are on this. I struggle sometimes to understand how events around the world may or may not affect the stock markets. It seems sometimes like a high ranking politician can sneeze and the market will go down for a day. Yet we're at the cusp of a historic catastrophic storm that's expected to cost many billions to recover from and the market's just chugging along like nothing's happening.

There is some expectation that oil prices will rise because rigs are shutting down. What would this mean for oil stocks? Commodities? Insurance? Automotive (flooded cars being replaced)?

Or perhaps because this storm is localized to one relatively small region, maybe it won't have any effect at all?

I would like to hear peoples' thoughts on this

Submitted August 25, 2017 at 10:16AM by NessInOnett http://ift.tt/2wMRCfk