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

The Wall Street Journal
Good morning from Iowa, where tonight the Fox News debate with or without Donald Trump is capturing the nation’s attention.
On the Fence
If you’re charitable, you would say the Fed wants to keep its options open. If you’re a skeptic, you might say the venerable U.S. central bank doesn’t know what comes next. U.S. Federal Reserve officials expressed renewed worry about financial-market turbulence and slow economic growth abroad, leaving doubts about whether the central bank will raise interest rates as early as March—just a month after they raised rates. That brought U.S. stocks tumbling down yesterday and left Asian shares choppy today, unnerving investors after weeks of sharp swings in global markets. The market’s reaction says more about the market than it does about the mind-set of the Fed decision makers, writes Paul Vigna. Here’s the full text of the Fed’s monetary-policy statement.
Ted Talk
Republican presidential candidate Ted Cruz has stepped up his attacks on GOP front-runner Donald Trump, in the final days before the Feb. 1 caucuses here in Iowa. As Mr. Trump threatened to skip tonight’s debate, Mr. Cruz mocked his hair, ego and countenance. If Mr. Cruz doesn’t stop Mr. Trump in Iowa, his allies worry he may not get another chance. But is Mr. Trump really skipping the debate? His campaign sent out a news release yesterday billing “a special event to benefit veterans organizations” in Des Moines, Iowa, at the same time as the debate. A competing event by Mr. Trump could become a masterly maneuver or a colossal blunder just days before the first votes are cast.
Like a Billion Bucks
For most of past year, Facebook’s spending outpaced its revenue growth. But in the latest quarter, that dynamic reversed. The social-networking site posted more than $1 billion in quarterly net income for the first time, reflecting its ability to quickly capitalize on its popularity. Behind the investor enthusiasm: Facebook still has many untapped revenue drivers at its disposal, including video, messaging and virtual reality, analysts say. There may be challenges ahead but it is hard to argue with results like these, notes Heard on the Street’s Miriam Gottfried. Here are Facebook’s earnings in five charts.
March Madness
March is when much of the TV industry’s new-year models start showing up in stores, so now is the kickoff of clearance sale season. If you’re looking to purchase a TV, ask yourself, how big should it be? Do I need 4K? Should I wait until next year? Geoffrey A. Fowler offers his playbook on how to buy the best TV. Meanwhile, customers for the most part are no longer willing to pay extra for expedited delivery. In fact, free shipping isn’t enough any more. We look at how online shoppers want fast shipping, too, and their expectations of an acceptable delivery window are shrinking.
TODAY'S VIDEO
New Wearable Fitness Tracker Analyzes Your Sweat
That Was Painless
Wearable sensors can track your walking pace, but they can’t tell much about what’s going on inside you. A team led by researchers from UC Berkeley say they’ve developed a wearable device that analyzes your sweat for clues about your health. Photo: University of California, Berkeley.
TOP STORIES
U.S.

Ferguson Unveils Proposed Deal With Justice Department to Reform Police

Leader Seeks End to Oregon Refuge Occupation
WORLD

China Sharpens Efforts to Halt Money Outflow

Chaos in Libya a Growing Draw for Extremists, Report Warns
BUSINESS

Theranos Lab Practices Pose Risk to Patient Health, Regulators Say

Apple’s Stalled Revenue Growth Puts Focus on Prices
MARKETS

Investors Hedge Bets on Crude-Oil Revival

Six Ex-Brokers Acquitted of Libor Rigging in London
NUMBER OF THE DAY
$12.25 million
The amount that ride-hailing service Lyft has agreed to pay to settle a case filed by California drivers over their status as independent contractors and the handling of their expenses.
QUOTE OF THE DAY
Donald Trump is not being treated fairly by the press? He consumes the press. He’s a Stradivarius violinist for the Vienna symphony ...Poor little Donald, being mistreated.
Jeb Bush on Wednesday launched into a broadside against the GOP contest’s front-runner when a worker asked why Donald Trump “is not right for America.’’
TODAY'S QUESTION
Going back to our story above, what are your thoughts on Mr. Trump’s decision to skip tonight’s debate? 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 story about New Jersey Gov. Chris Christie’s response to the snowstorm, Jeff Templeton of Pennsylvania commented: “The comments are totally out of line. It is frustrating to hear people that build near water complaining and wanting tax dollars to bail them out every time a storm occurs. The governor can likely do from New Hampshire anything he can do from Trenton. And of course, the folks on the islands can always sell and move to higher ground.” No matter you look at it, Chris Christie has not done a good job as Governor of New Jersey and his low approval ratings reflect that. Why on earth would anyone believe he could be an effective, trustworthy President? Brian N. Moore of Delaware wrote: “I wonder what my employer would say if I told them that I was going to take the next six months off to try to get another job, will only be able to do my current job part time and that I would appreciate their support for my next job? My guess is they would show me the door. If a state trooper in New Jersey was called to work during the storm, they wouldn’t be able to say that they couldn’t because they have another job. Why should the chief executive of the state be treated differently? He still receives his paycheck? Shouldn’t he earn it or stop taking it? The complication of running for president is you stop doing your job for the people who already elected you.”
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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