Good morning. Im jane pauley and this is sunday morning. As anyone who has ventured outside knows all too well, weather is the story of this summer, if not our time. Reports of extreme heat and record high temperatures now almost routine. 2023 is on track to be the hottest year ever recorded. But it may be that one town scorches them all. Phoenix. One of our Fastest Growing cities can also lay claim to being one of our hottest. David pogue checks out its triple digit woes. More than 100 million americans under heat alerts. Reporter 2023 has broken all kinds of records, but not the good kind. Scientists say july is the earths hottest month in recorded history. Welcome to your future. This is what you are facing in what is being projected to be an increasingly hot United States. We are all going to get hotter. Reporter ahead on sunday morning, a cold, hard look at this summers freakish heat. Actor michael j. Fox has now lived more than half his life with parkinsons disease. This morning
Exelon. My name is navin nayak, counsel for the center of American Progress and im excited to moderate this discussion on the Climate Crisis and response to it. The past year has really shown that we are in the thick of it. To ground us on this, i wanted to read a quick paragraph that struck me in a recent New York Times magazine piece. Describing the impact of wildfires in the northwest. Here is the quick description. The sun turned blood red and all but blotted out. Disappearing along with the city skyline. The sky turned gray or sabia or tangerine. Asked floated down like snow. Sometimes there were weeks when your advise not open your windows or exercise outside. Sometimes there were long stretches when you are not supposed to breathe the outside air at all. We are in the thick of this crisis. We are also in the thick of a response or a start of a response to it. As folks have mentioned several times today, last Year Congress passed the largest investment in addressing the Climate C
But with media stocks in a free fall, will the force be enough to save disney when it reports earnings next week . Well tell you how to cash in. The action begins right now. Lets get right to it. While stocks are at alltime highs, commodities are getting crushed. Crude, copper, gold, silver, all falling hard this week. What is it saying about the health of the global economy, what does it mean for the markets . In the money, dan . It is something that stuck out the last couple of weeks as the markets have really dated here near the previous alltime highs made on march 1st. To me one of the things thats interesting about this commodity move is also the weakness in the dollar that weve had over the same time period. All of a sudden now were seeing weakness in china, china equity markets. Weakness in commodities. A dollar thats not rallying. Rates that are stuck, not really signaling anything. Theyre not signaling the same things that the stock market is about to make a new alltime high.
70s at the beaches. 80s, 90s around the peninsula. 88 in mountain view. 95 in santa clara. 100 in gilroy. East bay you will be experiencing the hottest temperatures today. 104 in trivalley. The Carquinez Strait in the high 90s. Otherwise in the triple digits everywhere east of the bay. Now, meanwhile, the bodega bay at 67. The 6 in novato. Not seeing a spare the air day kicking in 10 to 20 late day 97 in windsor and 107 in ukiah, 106 in cloverdale and lakeport and guess what. Tomorrow will be even hotter this is why we do have a heat warning in effect now for much of the bay area away from the water due to temperatures up to 110 degrees east of the bay by tomorrow. Well talk about the full forecast and when well see relief coming up at 18 minutes after the hour but lets send to you. Some of the hottest areas in the east bay. Jessica flores is live in livermore to tell us how people can cool down. Jessica. Reporter its 68 in livermore and im cold. I need a jacket right now its expected
Oil posted its best day in seven years gaining 12 on hopes of a possible Production Cut that we told you about last night. The Banking Sector also pitched in having its best day since 2011. Helped out by a big buyback that well tell you about in just a few moments. Some strong Economic Data helped out as well. Add it up and a recipe for a rally. The dow was up 2 to close at 15,973. Nasdaq rose 70. The benchmark s p 500 added 35. Thats also about 2 . For the week it was a different story. The dow was the big loser down nearly 1. 5 . The nasdaq and s p both off more than. 5 . Bob pesani has more on todays rally. Reporter the market cannot decide how it feels. All week we were in the usual quasipanic mode that characterized the entire year. Oil down, bond yields were down, gold up, yen strengthening, Global Stock Markets down. Then everything changed at 2 30 p. M. Eastern time yesterday. Oil trading at 26, a 12year low, turned around on remarks of the uae opec minister that opec may agree