Futures rose slightly on Sunday, Sept. 10, as Hurricane Irma approached Naples, Fla., after the surprise exit this week of Federal Reserve vice chairman Stanley Fischer.

Dow Jones Industrial Average and S&P 500 futures both rose 0.3% Sunday evening, while Nasdaq futures were up 0.4%. The euro fell 0.15% against the dollar, to $1.2018, while the pound fell 0.1%, to $1.3187.

Hurricane Irma battered Florida on Sunday, with some analysts worrying about potential long-lasting market implications after the storm breaks.

While JPMorgan analysts noted Friday that "real GDP in Louisiana declined for a few years following Hurricane Katrina, but the national data were largely unaffected," Goldman Sachs economists expect Hurricane Irma and Texas' Hurricane Harvey to cause "a meaningful drag on key growth indicators," including a reduction of September jobs growth of 20,000 to 100,000, as well as an inflation boost.

Job and inflation numbers will play a key role as the Federal Reserve, which faces the impending departure of its No. 2.

On Tuesday, Fischer, who's been vice chair for three years, announced that he would depart the central bank. His boss, Fed chair Janet Yellen, plans to finish out her term in January 2018. President Trump has said he's deciding between reappointing her and replacing her with former Goldman Sachs Group Inc. (GS) president Gary Cohn, currently director of the National Economic Council. The Wall Street Journal, however, reported this week that Cohn is unlikely to get the nod after Cohn criticized the president's response to violence in Charlottesville, Va., in an interview with the Financial Times.

Fischer's resignation "presumably lowers the odds of Chair Janet Yellen being nominated for a second term when her current one expires early next year," Capital Economics chief U.S. economist Paul Ashworth wrote Wednesday. "Yellen and Fischer are viewed as being close and appear to share very similar views on both the monetary policy outlook and regulatory issues. If Trump doesn't pick Yellen, we doubt he will go for an orthodox Republican figure who would raise interest rates more aggressively."

Fischer's closeness to Yellen and the pair's "staunch" defense of post-crisis regulation potentially make Yellen's reappointment unlikely, as the president is "keen to roll back much of the regulation." Coupled with the nomination of former Carlyle Group LP (CG) partner Randal Quarles to serve as Vice Chairman for Bank Supervision at the Federal Reserve Board of Governors, Fischer's departure could augur "a shift toward a Federal Board of Governors that is more amenable to deregulation," Ashworth added. Additionally, JPMorgan Chief U.S. Economist Michael Feroli posited that Fischer's "absence may lower slightly the odds of a December hike."

The Federal Open Market Committee meets next week, beginning Tuesday, Sept. 19, with Yellen announcing plans and updated forecasts the next day.

Earnings reports are expected from Cracker Barrel Old Country Store Inc. (CBRL) and United Natural Foods Inc. (UNFI) on Wednesday, followed by Oracle Corp. (ORCL) on Thursday.

Stick with TheStreet for updated storm coverage as Hurricane Irma moves the market:

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