Stock Market Winners & Losers: Wall Street Tries to Build on Winning Session | Hurricane Milton Losses Could Reach $175B | Walmart Plans to Open 5 New Vet-And-Grooming Centers
Stocks rose slightly as traders sought to extend recent gains. Zillow is now adding climate risk data to its listings, covering flood, wildfire, and other environmental risks, which over 80% of homebuyers consider. Duolingo introduced AI-powered video calls, offering premium users realistic chats with a bot named Lily.
Hurricane Milton could cause severe damage, with potential losses of $175 billion in the Tampa area and $70 billion in Fort Myers. Insurer stocks have dropped in anticipation, while Generac's stock surged with increased demand for its products. Disney, Universal Studios, and SeaWorld will temporarily close their parks, with Disney’s losses potentially reaching $200 million this quarter. Florida's home and flood insurance rates, which have risen 400% in five years, may increase further after the storm.
In the growing $320 billion pet industry, Walmart is expanding vet-and-groomer locations and plans to offer vet telehealth as a permanent perk for Walmart+ members. While Walmart is closing human healthcare clinics due to costs, experts note that the pet industry remains strong, even during economic downturns, with higher-income Gen Zers continuing to splurge on their pets.
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