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

The Wall Street Journal
Good morning,
Swan Song
President Obama, in his final State of the Union address, hit a series of familiar Democratic themes and defended his record, including his leadership on security issues. On those and other topics, he also repudiated the rhetoric from Republicans on the 2016 campaign trail. In the Republican response, South Carolina Gov. Nikki Haley accused Mr. Obama of falling “far short of his soaring words” while also cautioning her own party not to fall for its own populist rhetoric. The president’s address comes amid continued economic anxiety and heightened concerns about security threats, stoked by recent Islamic State-inspired attacks, including a suicide bombing yesterday in Istanbul. And just hours before the speech, defense officials were scrambling upon learning that Iran had detained two small Navy boats and was holding 10 American crew members in the Persian Gulf—though they were released this morning.
Troubled Waters
History is in the making as the boom in U.S. oil drilling has changed the world’s political and economic landscape. U.S. congressional leaders did the unthinkable, agreeing last month to lift the nation’s 40-year-old ban on oil exports. The ink is barely dry on legislation and energy companies are already jockeying to ship American oil overseas. Two tankers filled with freely traded U.S. oil have pulled out of Texas ports in the past two weeks, with more shipments expected. Meanwhile, big oil companies deepened their reductions in staff and investment yesterday, as the price of oil briefly slipped below $30 a barrel for the first time since December 2003. Heard on the Street’s Spencer Jakab looks at the challenges of quantifying the risks to big exporters such as Venezuela, Iran and Saudi Arabia.
Wheels in Motion
Toyota boss Akio Toyoda, once an autonomous-vehicle skeptic, has shifted the world’s biggest auto maker out of go-slow mode in the technology. Behind the scenes over the past four years, Toyota executives declined a secret overture from Google and grappled with terminology, some viewing the word “autonomous” as taboo. We look at why Toyota is now rolling out one initiative after another. “I have hopes,” Mr. Toyoda said in an interview at this week’s North American International Auto Show in Detroit, “that what we are studying now could be used beyond the automotive business.” Meanwhile, the shares of auto makers such as General Motors and Ford have fallen even faster than the battered broader market after last year’s record car sales, as investors worry that it can’t get any better than that.
Every Dollar You Make
How would you feel if your co-workers could see your paycheck? Our Work & Family columnist Sue Shellenbarger looks at how companies’ open-pay policies bring inequities out in the open, prompting awkward conversations among employees and managers about who is making too little or too much. One big sum that will be hard to conceal is the check for $1.5 billion written to the lucky winner of the multistate Powerball lottery. In today’s A-Hed, we look at how a little town in Spain has already hit it big. The citizens of Laujar de Andarax, a hamlet in Spain’s Sierra Nevadas, have won more than $270 million in the country’s annual Christmas lottery, El Gordo, helping to prop up the local economy.
TODAY'S VIDEO
Obama v. Congress, Seen Through the State of the Union
That Was Painless
President Obama’s relationship with Congress started out strong when Democrats controlled both houses, but it soon took on a different tone as his party’s fortunes waned. We chart the relationship through his State of the Union rhetoric.
TOP STORIES
U.S.

Supreme Court Strikes Down Florida Death-Sentencing Procedure

Loan Program Helps Turn Refugees Into Entrepreneurs
WORLD

Aid Workers Describe Grim Scene in Besieged Syrian Town

Pentagon Considers Plan to Train Fighters in Syria
BUSINESS

Disney to Open First Theme Park in Mainland China in June

Dow and DuPont Strive to Find the Right Chemistry
MARKETS

MetLife to Shed Big Chunk of Life Unit

Offshore Yuan Borrowing Rate Comes Back to Earth
NUMBER OF THE DAY
$4 billion
The estimated amount that billionaire Michael Dell stands to make, after scooping up local TV stations across the country, from a government effort to buy back airwaves. In more than a dozen deals since 2011, a company controlled by Mr. Dell’s investment fund has spent about $80 million on independent TV stations, according to government records.
QUOTE OF THE DAY
Hillary’s focus has been other things up to now…No one questions Bernie’s authenticity on those issues.
With polls suggesting a tightening in the Democratic primary race between Hillary Clinton and Vermont Sen. Bernie Sanders, Vice President Joe Biden suggested in an interview on Monday that Mrs. Clinton was a newcomer to the issue of income inequality, a top concern for many Democratic primary voters, though he later backed away from the comments.
TODAY'S QUESTION
Going back to our earlier story, what are your thoughts on the State of the Union? 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
Responding to yesterday’s question about “El Chapo,” Alex Troy of Connecticut commented: “Mr. Guzman’s capture is a post-modern twist on Plato’s allegory of the cave. Like the philosopher in Plato’s story, Guzman lived in a cave, though his was real and plush. However, what drew the drug lord out of his hole was not the good, but an unquenchable thirst for attention. His recklessness shows that even in this post-modern world where everything is relative, and ‘one man’s terrorist is another’s freedom fighter,’ one transcendent value remains: celebrity. Mr. Guzman gambled all to take his place beside Kim Kardashian and Kanye West. He lost.” Stephen Jerome Kohn of Israel wrote: “The only justification for Penn’s interview is that it might have made the arrest of a drug kingpin easier. And he might pay with his life for that. Heroin is not a recreational drug and the number of ruined lives because of its use is very large. Rolling Stone and Penn should be condemned. The fact the some laud them for this interview is a sickness in our society.”
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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