00:00 It's Benzinga and here's what's on the block.
00:02 A historic heatwave that struck the city of Phoenix, Arizona has set a new benchmark with
00:06 temperatures reaching 110 degrees for 19 consecutive days.
00:11 The temperatures continue to climb, reaching as high as 118 degrees, breaking records for
00:16 that date.
00:17 The extreme heat is not expected to end soon, with forecasts predicting temperatures of
00:22 115 degrees or higher for at least the next week.
00:26 The heatwave is part of a broader trend of extreme heat affecting the southern tier of
00:29 the United States, as well as other regions like southern Europe, the Middle East and
00:33 China.
00:34 The intensity and duration of the heatwave have surpassed previous records, making it
00:38 an unprecedented weather event for the city.
00:41 The heatwave is attributed to an unusually strong and persistent area of high pressure
00:45 over the southwest region, resulting in clear skies and prolonged heat.
00:49 The only relief from the heat is expected to come from the annual monsoon season, which
00:53 typically occurs between June and September.
00:56 For all things money, visit Benzinga.com.
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