Investors relieved by the relatively minimal impact of Hurricane-turned-Tropical Storm Irene pushed stocks higher Monday as the Dow Jones Industrial average stormed up 254.71 points to close at 11,539.25.

The rally was led by major insurance firms who are now projecting total damages paid in the range of $2 billion to $3 billion following Irene – far less than the $6 billion-plus they paid out in the aftermath of Hurricane Isabel in 2003.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access