- 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. AG warns consumers of dangers of unapproved, compounded weight loss drugs
On Tuesday, Attorney General Lynn Fitch warned Mississippians to be aware of unapproved and compounded weight loss products on the market.
According to the AG, these misrepresented drugs can pose a serious safety and health risk to consumers and can cause significant, long-lasting consequences to their health.
The AG’s office stated:
“With the rise in popularity of weight loss drugs, deceptive sellers are making misleading health claims and promoting unapproved and compounded tirzepatide and semaglutide products in formulations that have never been evaluated by any regulatory agency and may never have been tested, such as sublingual drops, lozenges or films taken under the tongue, topical skin patches, and nasal sprays.
“Compounded tirzepatide and semaglutide products that are sold by compounding pharmacies, outsourcing facilities, med-spas, wellness centers, online retailers, and individuals on social media may not be approved by the Food and Drug Administration (FDA).”
2. Jackson to repay nearly $1 million in federal DOT funds
WAPT reports that the City of Jackson must refund nearly $1 million to the United States Federal Government.
“The head of transit services told the Jackson City Council Tuesday that more than $963,000 in grant money from the Department of Transportation given during the COVID-19 pandemic was incorrectly withdrawn. The money was used to pay for JTran operating costs between 2020 and 2022,” WAPT reported.
WAPT added, “Officials said the money was withdrawn at a higher ratio than it should have been. Transit services said once the money is refunded from the city’s general funds, they will eventually regain access to the grant money.”
National News & Foreign Policy
1. Medicaid cuts now off of the table in U.S. House?
The Hill reports “Speaker Mike Johnson (R-La.) on Tuesday said one controversial proposal to cut federal Medicaid funding was off the table and another would likely be excluded from the bill containing President Trump’s domestic policy priorities.”
“Leaving a nearly two-hour meeting with moderates late Tuesday afternoon, Johnson said a controversial plan to directly reduce the enhanced federal match for states that expanded Medicaid, known as the Federal Medical Assistance Percentage (FMAP), was off the table,” The Hill reported. “Johnson also said the bill would likely exclude ‘per capita caps,’ which would throttle federal funding without technically changing benefits. While some moderates in recent days said they could support the policy, others have pushed back at what would be a massive cost shift to states.”
“I think we’re ruling that out as well, but stay tuned,” Johnson told reporters after the meeting, per The Hill.
2. Conclave to elect new Pope begins today
The largest number of voting cardinals in history, 133, are embarking on the first papal conclave in more than a decade, reports the New York Times.
“Roman Catholic cardinals were set to cast a first round of ballots for a new pope on Wednesday in the Vatican’s Sistine Chapel, gathering under the soaring frescoes of Renaissance masters and a blanket of intense seclusion as they elect the next leader of 1.4 billion faithful,” NYT reported.
NYT continued, “The cardinals attended Mass at St. Peter’s Basilica on Wednesday morning. In the afternoon, starting at about 4:30 p.m. local time (10:30 a.m. Eastern), they will walk to the Sistine Chapel and take an oath to follow the conclave’s rules, which include maintaining total secrecy.”
Sports
1. Rougetet named SEC Field Athlete of the Week
Mississippi State Athletics says Bulldog javelin thrower Rémi Rougetet was named the SEC Field Athlete of the Week.
The school says Rougetet competed in his second meet of the season at the Maroon and White Tune Up, hosted by State, last weekend. In his final attempt, he launched the javelin 76.43m for a new personal best, leading the field by over 10 meters.
Rougetet, a two-time All-American in the javelin, sits third in the SEC and eighth on the NCAA performance list.
2. Southern Miss baseball moves Friday, Saturday game times
Southern Miss Athletics announced that that they have altered the scheduled game times for both the Friday and Saturday baseball games at Pete Taylor Park/Hill Denson Field this weekend against Louisiana.
Due to commencement ceremonies on campus, the Friday night game against the Ragin’ Cajuns will now take place at 7 p.m., with the Saturday start time set for 3 p.m. The home regular-season finale, Sunday, stays at 1 p.m.
Saturday also serves as Senior Day for the seven Golden Eagle seniors, who will be honored prior to that day’s game.
Markets & Business
1. China, U.S. trade talks welcome news for investors
The Wall Street Journal reports that investors are welcoming signs that China and the U.S. are finally ready to talk trade, with stock futures gaining early Wednesday.
“A team led by Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will travel to Switzerland this week to meet counterparts including Beijing’s lead economic representative,” reported WSJ. “The discussions could pave the way for broader trade talks.”
WSJ also noted, “Later Wednesday, the Federal Reserve is expected to hold interest rates steady. Comments from Fed Chair Jerome Powell will be scoured for clues on how policymakers view the risks of inflationary pressure from tariffs or shortages, versus the chance of an economic slowdown.”
2. Mortgage demand jump 11% this week
CNBC reports that weekly mortgage demand surged higher by 11%, according to the Mortgage Bankers Association’s seasonally adjusted index.
“Mortgage interest rates dropped for the second straight week, although not by a lot,” CNBC reported, adding, “The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, decreased to 6.84% from 6.89%, with points increasing to 0.68 from 0.67, including the origination fee, for loans with a 20% down payment. That rate was 34 basis points higher the same week one year ago.”
CNBC went on to note, “Applications for a mortgage to purchase a home rose 11% for the week and were 13% higher than the same week one year ago. Driving the increase was a surge in demand for conventional loans…”
