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Extreme temperatures are being achieved around the world as a series of extreme heat waves and domes refuse to cool off. Phoenix just recorded 110 degrees Fahrenheit for the 19th day in a row, and Rome had its hottest temperature ever, among other records. across parts of Asia, the Middle East and North Africa. Weather alerts remain in place, while health warnings encourage people to stay cool indoors and drink water regularly even if they don’t feel thirsty.
scorching summer In total, about 58 million people across the United States are expected to experience triple-digit temperatures this week, and about 100 million people are under heat warnings. Parts of the northern states have also broken daily temperature records, but things are much worse across the Southwest and Deeper South. “Take heat seriously and avoid spending time outdoors,” the National Weather Service warned in a bulletin. “Temperatures will reach levels that pose a health risk and potentially lethal death to anyone without effective cooling and/or adequate hydration. Heat is the leading weather-related killer in the United States.”
With demand for the power grid near record levels, industry leaders are talking about the energy market and the possibility of new incentives surrounding additional power generation. There are also concerns about farming and farming, as water use to cool livestock and wet dry land and crops is on the rise. Tourism is another economic concern in some parts of the country, as businesses are forced to shift their hours of operation, while high temperatures can spur wildfire season and prolong its devastating effects.
stock control: Shares of companies in the HVAC space did well, with Carrier Global (New York Stock Exchange: CARR) 17% rise Over the past month, compared to 4% profit of the S&P 500. Related stocks that haven’t cooled down include AAON (AAON), Comfort Systems USA (FIX), Lennox International (LII), and Watsco (WSO). In addition, potential power outages have increased demand for backup power, with generators stockpiles such as Generac (New York Stock Exchange: GNRC) see a 15% profit over the past month alone. When zoomed out on a longer time frame, generator providers such as Caterpillar (CAT) and Cummins (CMI) are also 30% increase And 50%respectively, since last summer.
More about extreme temperatures
- Corn and wheat futures rose as the rest of July witnessed drier and hotter US crops
- Oregon County is suing major oil companies for $51 billion for their role in the 2021 Heat Dome
