Heatwave's Impact on Stock Market: Winners and Losers
As record temperatures hit the United States, stocks of companies that provide cooling solutions such as air conditioners and fans have risen, outperforming the broader market. Beverage companies and natural gas stocks have also seen gains as people seek refreshing drinks and increase their air conditioner usage. However, extreme weather events have posed challenges for airlines, leading to flight cancellations, and agricultural companies, with heavy rainfall and high temperatures affecting crop fields and farmer health.