NEW YORK — U.S. stock futures are rising after the damage from Tropical Storm Irene wound up being less than many analysts had anticipated.
The storm ripped through the East Coast and caused widespread flooding. Millions were without power. However, consulting firm Kinetic Analysis Corp. predicted that insured damages would range between $2 billion and $3 billion, lower than initially estimated. The insurance industry paid out $6 billion in damages after Hurricane Isabel hit the East Coast in 2003.