Important state and national stories, market and business news, sports and entertainment, delivered in quick-hit fashion to start your day informed.
In Mississippi
Potential dam breach causes flash flood watch
The U.S. Army Corps of Engineers Vicksburg District said on Sunday that a flash flood watch was in effect until further notice for the potential failure of the Arkabutla Dam on the Coldwater River.
The dam breach watch impacts the Mississippi counties of Coahoma, DeSoto, Panola, Quitman, Tallahatchie, Tate, and Tunica.
Increased reservoir levels caused by melting snow and ice and significant rain fall are said to be the cause.
National News & Foreign Policy
1. Three U.S. military members killed in Jordan
The White House announced Sunday that three U.S. service members were killed and many were wounded during an unmanned aerial drone attack on U.S. forces stationed in northeast Jordan near the Syrian border.
“While we are still gathering the facts of this attack, we know it was carried out by radical Iran-backed militant groups operating in Syria and Iraq,” the statement said.
In a statement, President Joe Biden said the nation will strive to be worthy of their honor and valor.
“We will carry on their commitment to fight terrorism. And have no doubt — we will hold all those responsible to account at a time and in a manner our choosing,” Biden said.
Some congressional members want an immediate and deadly response to the Iranian attacks.
South Carolina U.S. Senator Lindsey Graham posted, “Hit Iran now. Hit them hard,” while Texas U.S. Senator John Cornyn said, “Target Tehran.”
2. North Korea ramps up missile testing
According to ABC News, North Korea’s military again tested an in-development strategic cruise missile, launching it from a submarine on Sunday, state media said.
ABC News reports that the country’s leader, Kim Jong Un, supervised the test along with other military officials, the official Korean Central News Agency said on Monday. North Korea’s meida said the test was part of Kim Jong Un’s plan to continue “accelerating the nuclear weaponization of our navy.”
Sports & Entertainment
1. 49ers, Chiefs to meet in Super Bowl
The San Francisco 49ers and the Kansas City Chiefs punched their tickets to the Super Bowl on February 11th.
First up on Sunday, the Chiefs defeated the Baltimore Ravens 17-10 to clinch the AFC Championship. Chief’s Tight End Travis Kelce had a historic performance as he broke Jerry Rice’s all-time postseason receptions record.
Then, the Detroit Lions, looking for their first-ever trip to a Super Bowl, jumped out early to a 17-point lead at the half but drops and two decisions to not kick field goals cost them in the end. The 49ers roared back to win the NFC Championship 34-31.
The Chiefs have now been in six consecutive AFC championship games and made it to the Super Bowl four out of the last five years. The 49ers were in their third consecutive NFC championship game and fourth in five years.
Kansas City beat the 49ers four years ago to win Super Bowl LIV. Now, the Chiefs could become the first team in 20 years to win back-to-back Super Bowls. The last team to achieve that feat was the Tom Brady-led New England Patriots.
2. Miss. State takes down Auburn, Ole Miss hangs on to beat Texas A&M
Mississippi State’s men’s basketball team got a huge won on Saturday, taking down No. 8 Auburn 64-58.
The Bulldogs are now 3-4 in SEC play and 14-6 overall.
Ole Miss’ men also got a win over the weekend, defeating Texas A&M 71-68. The Rebels are 4-3 in the SEC and 17-3 overall.
The two Magnolia State rivals are set for a key faceoff on Tuesday in Oxford.
Markets & Business
1. Stocks futures little changed to open week
CNBC reports that U.S. stock futures were little changed Monday as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision.
“Futures tied to the Dow Jones Industrial Average declined 14 points, or 0.04%. S&P 500 and Nasdaq 100 futures rose slightly,” CNBC said, further noting:
All three major averages all rose last week week following encouraging economic data. Economic growth in the fourth quarter was stronger than expected, while core inflation on a yearly basis was lower than economists had forecast, suggesting a cooldown in price increases. However, the market’s gains were more muted compared to the prior week’s rally after notable companies such as Intel and Tesla disappointed on the earnings front.
2. Credit flowing again
The Wall Street Journal is reporting that across the country, credit is flowing freely again.
“U.S. Treasury yields, which set a floor on the cost of debt such as mortgages and corporate bonds, have retreated from their multiyear highs. Businesses and individuals are finding it easier to borrow, and many are forging ahead,” WSJ reports. “Investors often watch credit markets as a gauge of economic health, so the rebound raises hopes that the U.S. can keep avoiding a long-feared recession.”
WSJ also reported that consumers have increased their borrowing lately, “with falling rates even spurring a jump in applications for mortgages to buy homes. Issuance of asset-backed securities—bonds backed by a variety of debt such as credit cards and auto loans—has surged this month.”
Magnolia Tribune
