Magnolia Mornings: September 23, 2024

• 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. Tropical weather outlook could bring storm to Coast later this week

Forecasters are predicted a tropical system in the lower Gulf of Mexico will develop into a depression or storm early this week.

“Environmental conditions appear favorable for further development of this system, and a tropical depression or storm is likely to form over the next couple of days as the system moves northward across the northwestern Caribbean Sea and into the southeastern Gulf of Mexico where additional development is possible,” the National Hurricane Center stated.

NHC went on to add that later this week, the system is forecast to move generally northward across the eastern Gulf of Mexico, and interests along the northern and northeastern Gulf Coast should also closely monitor the progress of this system.

2. Bids to tear down Welty Library to be opened this week

According to WLBT, bids are to be opened this week to demolish the former Eudora Welty Library in downtown Jackson.

“The Mississippi Department of Archives and History began advertising for bids for the demolition in August. They are slated to be opened at 2 p.m., on September 24,” WLBT reported. “The bid opening is coming more than nine months after the Jackson City Council voted to turn over the former library to MDAH. MDAH is tearing down the aging structure to make way for Margaret Ann Crigler Park.”

National News & Foreign Policy

1. Senate Democrats concerned with latest Harris-Trump polls

As The Hill reports, “Senate Democrats are worried pollsters are once again undercounting the Trump vote and say Vice President Harris’s slim lead in battleground states, especially Pennsylvania, is cause for serious concern.”

“Democratic lawmakers are growing nervous that their party may once again feel lulled into a false sense of optimism amid polls showing Harris with small but consistent leads in three crucial states that make up the so-called blue wall: Michigan, Pennsylvania and Wisconsin,” The Hill reported, adding, “What’s alarming for Democrats is that Trump has a track record of outperforming the polls, especially in the Midwestern states Harris is counting on.”

2. Congress to vote on short-term CR this week

Congressional leaders from both parties unveiled a short-term agreement to fund the government on Sunday, reports the New York Times. The moves come as Speaker Mike Johnson’s longer-term deal included new proof-of-citizenship requirements for voter registration failed last week.

“The deal, which extends federal appropriations through Dec. 20, includes an additional $231 million to help the beleaguered Secret Service protect candidates during the upcoming presidential election and into next year. According to the Treasury Department, the United States has spent about $6.3 trillion in fiscal 2024, which ends on Sept. 30,” NYT reported.

NYT added, “In a letter on Sunday to his colleagues explaining why he was forced to take the deal, Mr. Johnson wrote, ‘A continuing resolution is the only option that remains.’ He promised to put it to a floor vote this week.”

Sports & Entertainment

1. JSU falls to Grambling

Grambling beat Jackson State 41-20 in a non-conference matchup at Eddie G. Robinson Memorial Stadium on Saturday night.

For the second time this season, both games on the road, Jackson State was held scoreless ending a streak of consecutive games scoring in the opening stanza, JSU Athletics noted.

The Tigers open SWAC play next Saturday on the road against Texas Southern.

2. Shuckers eliminated from playoffs

The Biloxi Shuckers were eliminated from the Southern League Playoffs with an 8-2 loss against the Montgomery Biscuits in game three of the Southern League Division Series at Riverwalk Stadium on Friday night.

According to the team, the game ended the Shuckers’ first playoff appearance since they reached the Southern League Championship Series in 2019.

The Shuckers end the 2024 season with a 36-32 record – the third best in the Southern League and second in the South Division.

Markets & Business

1. Stock futures up Monday after record week

CNBC reports that stock futures rose slightly Monday after excitement over last week’s interest rate cut propelled the Dow Jones Industrial Average to a record closing level.

“Futures tied to the 30-stock index gained 27 points, or 0.06%. S&P 500 futures and Nasdaq 100 futures climbed 0.15% and 0.22%,” CNBC reported. “The moves come after a winning week on Wall Street that centered around the Federal Reserve’s decision to lower interest rates by 50 basis points, its first cut in four years. Despite some choppiness following the initial announcement, stocks rallied in the days following.”

CNBC also noted, “The Dow ended Friday at an all-time high close, which was notably above 42,000. All three of the major indexes added more than 1% for the week, during which the S&P 500 also reached new records.”

2. Demand for power has climate optimism fading

Climate optimism is fading, the Wall Street Journal reports.

“Higher costs, pushback from businesses and consumers, and the slow rollout of technology are delaying the transition from fossil fuels,” WSJ reported. “Renewable energy is growing faster than expected. But surging demand for power is sucking up much of that additional capacity and forcing utilities to burn fossil fuels, including coal, for longer than expected.”

WSJ noted, “A Trump victory in November would likely squeeze federal climate spending, threatening President Biden’s agenda. The package of tax credits and other funding announced in 2022’s Inflation Reduction Act was a landmark, but some tax-credit rules still aren’t completed and money is flowing slower than expected.”