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Magnolia Mornings: May 9, 2024

This article first appeared on the Magnolia Tribune.

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In Mississippi

Aluminum Dynamics construction on schedule

(Photo from WCBI report)

WCBI reports that construction at Aluminum Dynamics is right on schedule.

“One of the largest economic development projects Mississippi has seen is taking shape,” WCBI reported. “The $2.5 billion project is shaping into gear with hundreds of employees already hired.”

WCBI notes that the company plans to be fully functioning by the summer of 2025.

National News & Foreign Policy

1. Biden’s withholding of weapons strains Israel relationship

(Photo: The White House, Wikimedia Commons)

President Joe Biden has wanted Israel that the U.S. will withhold certain weapons if Israel launches a long-threatened assault in southern Gaza, that news reported by the New York Times. The word from Biden has caused a stir in the embattled nation.

“Some members of Prime Minister Benjamin Netanyahu’s government reacted with defiance Thursday to President Biden’s warning that the United States could withhold more weapons if Israel launched a major assault on Rafah, even as concern among Israelis grew that strains with the White House could affect the country’s ability to continue its campaign against Hamas,” NYT reports.

2. Haley easing back into public life, no immediate plan to endorse Trump

Republican presidential candidate former UN Ambassador Nikki Haley arrives at a campaign event at the Monadnock Center for History & Culture, Saturday, Jan. 20, 2024, in Peterborough, N.H. (AP Photo/Robert F. Bukaty)

The Wall Street Journal is reporting that former presidential candidate Nikki Haley is “easing back into public life after dropping out of the Republican presidential race in early March, but has no immediate plans to endorse Donald Trump.”

“The former South Carolina governor is attending a retreat in Charleston, S.C., on Monday and Tuesday to thank about 100 of her biggest donors, a person close to Haley told The Wall Street Journal. She isn’t expected to discuss her political future or encourage them to give to other campaigns,” WSJ reported. “The person said there is no pending endorsement of Trump, the former president and presumptive Republican nominee.”

Sports & Entertainment

1. After 15 innings, Rebels lose to Racers

(Photo from Ole Miss Athletics)

Ole Miss and Murray State went the distance for 15 innings on Wednesday, but the Racers came away with a 12-9 victory.

The Rebels fall to 25-23 on the season. They return to SEC play this weekend when they host Texas A&M for three games starting on Friday.

2. JSU’s White named SWAC co-Hitter of the Week

(Photo from JSU Athletics)

Jackson State’s Myles White was named the Southwestern Athletic Conference (SWAC) co-Hitter of the Week after his performance against Mississippi Valley State over the weekend.

According to JSU, White finished the week hitting .600 in a three-game series that was shifted to Sunday-Monday due to weather and forced to be played in Jackson. He finished the series going 9-for-15 with a double and a triple in the series sweep. He scored four runs and knocked in another eight while slugging .800 and recording an on-base percentage of .625.

Markets & Business

1. Oil seeing rising inventories, slipping demand

Reuters is reporting that brent crude prices slumped to a two-month low of below $82 a barrel on May 8 on rising inventories and slipping demand.

“Weaker demand has seen crude oil prices fall sharply in recent weeks and OPEC+ producers meet in early June to decide on the fate of a series of supply cuts agreed since late 2022,” Reuters reported, adding, “They recovered some losses on Thursday, but are on track to lose over 4% so far this month after four months of gains.”

2. Stock futures fall Thursday

CNBC reports that U.S. stock futures fell Thursday as momentum on Wall Street waned and interest rates ticked higher.

“Futures tied to the Dow Jones Industrial Average slid 85 points, or 0.2%. S&P 500 futures were down 0.2%, while Nasdaq 100 futures pulled back about 0.3%,” CNBC reported. “The benchmark 10-year Treasury note yield climbed back above the key 4.5% mark. The shorter-term 2-year note yield also rose.”

CNBC also notes that Wall Street is coming off a mixed session, with the Dow on a six-day winning streak and the S&P 500 closing lower for the first time in five days.

This article first appeared on the Magnolia Tribune and is republished here under a Creative Commons license.

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