Latest market-sensitive news and views - Aug. 30

Hurricane Idalia's impact, including potential flooding and disruptions to gas prices and oil production, along with rising concerns about low-income Americans struggling with rent and food affordability, are among the key developments highlighted in today's news.

kitco.com

Relevant topic timeline:

8/29/2023

Latest market-sensitive news and views - Aug. 29

Hurricane Idalia has reached Category 1 status and is approaching Florida's Gulf Coast, leading to preparations and evacuations in the region.

8/29/2023

Hurricane Idalia Barrels Toward Florida

主题: Hurricane Idalia threatens Florida's Gulf Coast, Biden administration announces price negotiation for medication, US officials express concerns about investing in China, rapid depletion of groundwater in the US, crisis for nonprofit theaters, guide for first-time campers, totem pole returning to the Nisga’a Nation. 要点: 1. Hurricane Idalia approaching Florida's Gulf Coast with dangerous winds and storm surge. 2. Medications subject to price negotiation with Medicare announced by Biden administration. 3. US officials express concerns about investing in China due to risks. 4. Investigation reveals rapid depletion of groundwater reserves in the US. 5. Nonprofit theaters facing a crisis as subscription numbers decline. 6. Guide for first-time campers with tips on camping styles and gear. 7. Totem pole stolen from the Nisga’a Nation returning home after a century.

8/30/2023

Oil Prices Rise as Hurricane Idalia Makes Landfall in Florida

Crude prices rise as Hurricane Idalia threatens oil production in the Gulf of Mexico.

8/31/2023

Hurricane Idalia could become 2023’s costliest climate disaster for the US

Hurricane Idalia may become the costliest climate disaster in the US this year, with potential damages estimated between $9.36bn and $20bn, highlighting the increasing frequency and severity of weather-related events that are impacting the insurance and risk management industries.

8/31/2023

What to do if you have Labor Day travel plans in Idalia’s path

Travel experts recommend monitoring the effects of Hurricane Idalia and looking for airline waivers for re-booking, rescheduling trips to hard-hit areas, and checking with accommodations in affected areas for reopening and accepting guests.

8/31/2023

Florida-only insurers weather Hurricane Idalia amid market pullback

Florida-only insurers like Citizens Property Insurance expect less damage and fewer claims from Hurricane Idalia compared to previous storms, easing concerns of further market pullback, but industry experts still predict challenges for the insurance market and the possibility of increased premiums for customers.

9/12/2023

Record-Breaking Hurricane Pushes 2022 U.S. Billion-Dollar Disaster Tally to 23 and Counting

Hurricane Idalia became the 23rd billion-dollar weather disaster in the United States this year, surpassing the previous record set in 2020, highlighting the increasing frequency and cost of such catastrophes, which experts attribute to factors including climate change and ongoing development in disaster-prone areas.

9/13/2023

Ocean Drone Braves Hurricane Idalia, Captures Rare Footage to Improve Forecasting

A saildrone captured video footage of Hurricane Idalia in the Gulf of Mexico, offering valuable data that could contribute to improved hurricane forecasting and understanding of rapid intensification.