Tropical Storm Harvey is wreaking havoc on the Gulf Coast of Texas Monday, with damage estimates from the storm expected to be upwards of $30 billion.
More than 20 inches of rain has fallen over the last couple of days with more expected to be dumped on the region in the coming days.
However, some retailers on the stock exchange were benefiting in the aftermath of the storm, specifically home improvement firms which received the biggest bump from the storm.
Shares of Home Depot Inc. (HD) - Get Home Depot, Inc. Report were up 1.02% to $151.17 in early morning trading Monday while rival Lowe's Co. (LOW) - Get Lowe's Companies, Inc. Report was climbing 2% to $74.82.
Meanwhile, as many as one-fifth of the country's refineries will be shut down due to the storm, according to CNBC, which could result in a rise in gas prices.
Texas-based oil transmission company Cheniere Energy Inc. (LNG) - Get Cheniere Energy, Inc. Report reported minor cosmetic impacts to its pipelines from the storm Monday, though it does not expect any interruption to operations. The stock was up 1.31% to $41.79 Monday morning.
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