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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
‘Unspeakable Carnage’
Syed Rizwan Farook and Tashfeen Malik, the bride he brought back from Saudi Arabia, have sparked an investigation into whether international terrorism has entered the American heartland. People who knew the couple said they were stunned this week to learn of their alleged role in the deadly attack at the Inland Regional Center in San Bernardino, Calif. Witnesses recounted the horror as bursts of gunfire interrupted an office party. “It was unspeakable the carnage we were seeing,” Lt. Mike Madden said, as he recounted the story. The identities of all 14 victims became public yesterday afternoon.
Adverse Side Effects
The European Central Bank stepped up its efforts to boost Europe’s weak economy yesterday. However, the size of the stimulus disappointed markets, hammering U.S. and European stocks and driving the euro up against the dollar. The medicine prescribed by the ECB is encouraging banks to lend more—at least in most countries. Meanwhile, the perceived need for more stimulus from the ECB underscores the divide between Europe and the U.S. Today’s jobs report offers the final key piece of economic data for Federal Reserve officials before they decide whether to raise short-term interest rates this month.
Beauty Makeover
Avon is in advanced talks to sell its North American business to Cerberus Capital Management, according to people familiar with the matter. The news comes as an activist investor is readying its own campaign to turn around the struggling beauty-products seller. The Journal reported in September that Avon was in talks to sell a minority stake to Cerberus or Platinum Equity, and in April that the company was considering strategic alternatives. Cerberus has since emerged as the front-runner. Terms of the potential deal couldn’t be learned, and the people familiar with the deal cautioned that the talks are fluid. Should there be an agreement, it is expected this month.
Have a Spa Day
Private, in-home spas with specialized features such as massage rooms, pedicure chairs and hammams are becoming more common, spacious and luxurious. The trend may have started with high-end hotels, where luxurious spas started appearing about 15 years ago. Check out the steam rooms and hot tubs of these residential spas in the Hamptons and Homer Glen, Ill. Meanwhile, in residential towers, luxury builders are reserving top floors for shared amenities. By adding pools, private dining and theaters atop their towers, they are hoping to charge more for units lower down.
All-American Fashion Shoot
For the cover of this Saturday’s holiday issue, SpaceX granted WSJ. Magazine unprecedented access to photograph supermodel Karlie Kloss at their headquarters in Hawthorne, California. The result: An All-American fashion shoot that provides a rare glimpse inside Elon Musk’s rocket factory. Also in the issue, a candid conversation with Alejandro Gonzales Inarritu, Oscar-winning director of Birdman whose next film, The Revenant, is already garnering awards-season buzz; profiles of two exceptional families, the Seacrests and the Rymans; and finally, as holiday festivities get under way, a roundup of distinctive gift ideas.
TODAY'S VIDEO
Trans-Siberian Orchestra Makes Christmas Rock
That Was Painless
The Trans-Siberian Orchestra will play 100 shows this holiday season. How is that possible? WSJ’s Neil Shah reports. Photo: Ryan Henriksen for The Wall Street Journal
TOP STORIES
U.S.

Defense Secretary Says U.S. Opening All Military Combat Roles to Women

Janet Yellen Emphasizes Slow Pace of Rate Increases
WORLD

Venezuela Regime Fights Back Against Surging Opposition as Elections Near

Multisided Syrian War Moves Into Critical Phase in Aleppo
BUSINESS

In the Fight Against Counterfeits, Even the Raids Can Be Fake

NRG Energy CEO David Crane Resigns
MARKETS

Crowded Trades Collapse

Goldman Tries a New Commodities Play
NUMBER OF THE DAY
$4.304 trillion
Global M&A volume in 2015—ahead of 2007’s total, when the previous record of $4.296 trillion of mergers was struck.
QUOTE OF THE DAY
I believe those who speak about their pro-Israel views but carelessly support a gutting of our international affairs budget, including assistance to Israel, or who vote against legislation funding U.S.-Israel defense programs, need to check their priorities.
Florida Sen. Marco Rubio took his rivals to task for opposing a bill authorizing funding for the “Iron Dome” missile shield that protects Israel.
TODAY'S QUESTION
What are your thoughts on Sen Rubio’s comment? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
On yesterday’s question about oil prices, Jake White commented from California, “I believe the trends of supply and demand in the global energy landscape have simultaneously reached inflection points, remarkable in both their irreversibility and opposing direction. A decade of ‘climate awareness’ efforts has made today’s consumer more efficient and conscious of usage. Demand down. A decade of innovation in the oil patch has made the stuff more abundant than was ever thought possible in the 20th century. Supply up. Where else can the price go but down?” David C. Jory of Washington, D.C., wrote, “That the Carter-era ban on U.S. crude exports remains in force while the world is awash in oil results in artificially low prices here while needlessly inflating prices for our trading partners. The confluence of the ‘war on carbon’ declared by the left and Republican fear of any price spike domestically if exports were permitted has stymied the one obvious, market-based response to the explosive growth of U.S. hydrocarbon production: sell it into world markets.” Rick Dawley weighed in from North Carolina: “I expect oil prices to remain low for at least two to three years -- going lower in the short run and then gradually rising to no more than $50-$60 per barrel. After that time period, I wouldn’t even hazard a guess.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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