- Important state and national stories, market and business news, sports and entertainment, delivered in quick-hit fashion to start your day informed.
In Mississippi
1. Small aircraft crashes in Ross Barnett Reservoir
WJTV reported that a small aircraft crashed in the Ross Barnett Reservoir on Monday.
“Reservoir Police Chief Trevell Dixon said the plane crashed into the Pelahatchie Bay Monday afternoon,” WJTV reported. “The pilot was the only person on the small glider at the time of the crash, according to Dixon. The police chief said the pilot had no visible injuries, but he was being checked out by medical personnel.”
National News & Foreign Policy
1. Trump could face charges in Arizona
Newsweek reports that former President Donald Trump could be charged in two further criminal cases stemming from a case of election interference in Arizona.
“The claim was made by Daniel Gielchinsky, an attorney and founder of Florida-based company DGIM Law, who said a fifth Trump indictment in Arizona would ‘most likely’ be the result of another defendant agreeing to testify against him as part of a plea deal,” Newsweek reported. “In August 2023, 18 Trump supporters, including Rudy Giuliani and ex-White House Chief of Staff Mark Meadows, were indicted on charges including fraud, forgery and conspiracy, related to their alleged involvement in a plot to overturn the 2020 presidential election result in the state of Arizona.”
2. Russian general eyes next invasion
The Daily Express reports that a Russian general has encouraged Vladimir Putin to go to war with NATO and seize three cities in key member countries.
“Major-General Nikolay Plotnikov is a reservist tank commander who also works as a professor at the Institute of Oriental Studies in Moscow,” Daily Express reported. “During a discussion on Russian state TV, the Major-General called on Putin to correct a ‘historical mistake’ made by Lenin and Stalin. He said the Kremlin should seize control of Narva in Estonia, Klaipeda in Lithuania and Daugavpils in Latvia.”
Sports & Entertainment
1. Southern Miss heads to Knoxville as No. 2 seed
Southern Miss will be the No. 2 seed in the Knoxville Regional in this year’s NCAA Baseball Tournament.
The Golden Eagles, now 41-18, will play No. 3 seed Indiana at Noon on Friday at Lindsey Nelson Stadium on the campus of the University of Tennessee.
Also in the Regional are No. 1 national seed and No. 1 regional seed Tennessee and No. 3 seed Northern Kentucky.
2. Miss. State travels to Charlottesville as No. 2 seed
Mississippi State is travelling to the Charlottesville Regional for the NCAA Baseball Tournament.
The No. 2 seed Bulldogs will play No. 3 seed St. John’s at 6 p.m. on Friday at Davenport Field at Disharoon Park.
Virginia is the No. 1 seed and Pennsylvania is the No. 4 seed.
Markets & Business
1. Short trading week, end of month on tap
CNBC reports that stock futures moved marginally on Tuesday morning as investors await inflation data due at the end of the shortened trading week.
“Futures tied to the Dow Jones Industrial Average lost 44 points, or 0.1%. S&P 500 futures gained 0.1%, while Nasdaq 100 futures edged up 0.2%,” CNBC reported, adding, “Stocks are on track to end May’s trading month, which concludes with Friday’s closing bell, on a strong note. Softer inflation data earlier this month and better-than-expected quarterly earnings reports lifted sentiment, with the former suggesting Federal Reserve rate cuts could come earlier than investors had anticipated.”
2. Recession indicator in a slump
One of Wall Street’s favorite recession indicators looks broken, the Wall Street Journal reported.
“An anomaly known as an inverted yield curve, in which yields on short-term Treasurys exceed those of longer-term government debt, has long been taken as a nearly surefire signal that an economic pullback looms. In each of the previous eight U.S. downturns, that has happened before the economy sputtered. There haven’t been any glaring false alarms,” WSJ reported.
WSJ reports that now that streak is threatened.
“If a recession doesn’t materialize soon, it could do lasting damage to the yield curve’s status as a warning system, providing one of the most significant examples of how the fallout from the Covid-19 pandemic has upended longstanding assumptions on Wall Street about how markets and the economy function,” WSJ reported. “Even if the past couple of years have been unusual, investors likely wouldn’t be as worried when another inversion occurs in the future.”
Magnolia Tribune
