Nancy Mace announces run for governor, Georgia Senate race heats up

U.S. stock markets are showing some life this morning after Friday’s dramatic developments knocked them down a peg.

Futures for the S&P 500, Nasdaq and Dow Industrials all pointed to a higher open. On Friday, stocks had their worst day since the spring after Trump released a new slate of global tariffs and fired the Bureau of Labor Statistics commissioner after monthly jobs data showed far weaker growth than previously thought.

Wall Street will also hear from a big slate of major companies this week, as Disney, McDonald’s, YUM! Brands and others are set to report financial results and weigh in on the state of the consumer.

House Speaker Mike Johnson, R-La., and several of his GOP colleagues are in Israel today and met with the country’s defense minister, Israel Katz.

“I thanked them for their unwavering support and moral clarity in standing with Israel against its enemies, and for their vital voices in the efforts to bring all the hostages home and defeat the murderous terrorist organization Hamas,” Katz said in a post to X sharing photographs from their meeting. 

Johnson had previously been scheduled to visit Israel and address the Knesset in June, but his trip was postponed after Israel launched airstrikes on Iran, prompting retaliatory strikes. 

As Trump’s tariffs are set to begin Thursday, rising prices from all the tariffs could cost the average American family $2,400 in 2025, according to a new estimate from the Yale Budget Lab. Meanwhile, Trump is facing new questions after firing the head of the Bureau of Labor Statistics after a weaker-than-expected July jobs report that he says is “rigged.” NBC’s Kelly O’Donnell reports for “TODAY.”

Rep. Nancy Mace, who has at times broken with her own GOP leaders and often courted controversy, launched a long-expected bid for governor of South Carolina today, shaking up a crowded primary race that already includes big names in the Palmetto State.

“I didn’t come to join the club. I came to hold the line. They said stay quiet; I spoke up. They said sit down; I stood up. They said play nice; I fought back,” Mace will say in a speech in Charleston, where she made history 26 years ago as the first woman to graduate from the Citadel military college. “South Carolina is tired of politicians who smile for the cameras, lie to your face, then vanish when it’s time to lead. I’m not one of them.

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Several members of Congress will hold town halls tonight as lawmakers begin their August recess. 

Rep. Mike Flood, R-Neb., is holding a town hall tonight in Lincoln, Nebraska; Rep. Troy Carter, D-La., is expected to speak at a church in Jefferson, Louisiana, and Sen. Elissa Slotkin, D-Mich., will hold a town hall in Benton Harbor, Michigan.

Many members of Congress use the August recess period to promote their party messages and listen to constituents’ questions and concerns. 

Former college football coach and attorney Derek Dooley launched his bid this morning for the Republican nomination for the U.S. Senate in Georgia, a prime pick-up opportunity for Republicans next year.

Georgia Republicans hope to win back the seat from Democratic Sen. Jon Ossoff, who is in his first term; it’s a major target for the party to maintain or expand its slim Senate majority. Democrats have overperformed in the traditionally red state in recent elections and hold both Senate seats. Joe Biden won the state in 2020 by less than half a percentage point, while Donald Trump won by just over 2 points in 2024.

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A showdown over redistricting in Texas played out here yesterday as dozens of state Democrats took refuge roughly 1,000 miles away from home, saying they fled Texas to deny quorum to Republican efforts to add as many as five congressional seats to their map.

It culminated with Texas’ Republican governor threatening to expel the Democrats from the Texas state House and potentially extradite them, saying they may be “felons.”

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