The Alerian MLP ETF trades at a 40% discount to the S&P 500 and a 79% discount to S&P 500 midstream peers, despite superior dividends and similar EBITDA growth. Read the full analysis here.

There are several outdoor events in Miami-Dade and Broward that could do battle with the downpours. Among them: Calle Ocho Music Festival. The Carnaval Miami signature event is at 11 a.m.-7 p.m.