 Palm Springs was not far behind with an afternoon high of 124. Phoenix, Arizona hit a sizzling 118, and forecasters say daytime highs likely won't drop below 110 for nearly a week. I'm Chris Garagio. Coming up in the business week ahead, things start off Monday with word on consumer credit. Tuesday, Fed Chair Jerome Powell is scheduled to testify before the Senate Committee on Banking, Housing, and Urban Affairs. He'll be delivering the Federal Reserve's semiannual monetary policy report.