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

The Wall Street Journal
Good morning,
Terror in Indonesia
Developing: Seven people were killed in explosions and a shootout in Jakarta, with witnesses reporting blasts at a police station and on a corner next to a Starbucks and a Burger King, near the Sarinah shopping mall. An Islamic State media arm said the extremist group had carried out the attacks, though Islamic State hadn’t made an official claim of responsibility.
The Bear Growls
The new year’s stock-market rout deepened yesterday, dragging the Dow Jones Industrial Average down almost 10% from its highs of late last year. And today China shares flirted with bear-market territory before seeing a late session rally. Stocks elsewhere in Asia declined, and the downward momentum spilled over to Europe. Traders said declines were fueled by fresh concerns that a U.S. economic expansion that is almost seven years old is vulnerable to softening growth overseas. As the pronounced slowing in China’s industrial sector and the steep drop in oil prices have taken investors and policy makers by surprise, our columnist Greg Ip looks at the peril of faulty assumptions. The latest maxim to be debunked—China’s demand for raw materials is infinite.
Feel the Bern
As polls show Bernie Sanders ahead in New Hampshire and closing the gap in Iowa, Hillary Clinton has unleashed a string of attacks on the Vermont senator’s policy agenda. The shift in tone marks a turning point in the Democratic race as Mrs. Clinton works to avoid back-to-back defeats in the first two presidential contests. Mr. Sanders has cast the Clinton assault as a sign of desperation. Meanwhile, the Republican Party’s disagreements are set to converge at another presidential debate tonight, with separate squabbles between Sen. Ted Cruz and Donald Trump, and among the other candidates battling for the GOP’s establishment mantle.
Unsettled Questions
Iran released a series of videos of U.S. sailors who were being held in detention, raising questions about whether the country’s hard-line military mistreated the Americans or violated international law by using them for propaganda purposes. Obama administration officials have said their initial determination is that the sailors were treated well, but the videos depicted questionable actions by Iran’s military force. One video showed several Americans kneeling, with their hands clasped behind their heads, while another showed a service member speaking to a questioner, admitting wrongdoing and apologizing.
Flying High
What were the best and worst airlines of 2015? Our Middle Seat columnist Scott McCartney’s annual scorecard of the nine biggest U.S. carriers shows surprising progress in air travel. The industry canceled fewer flights, stayed on schedule more often and invested profits in better equipment and even more baggage handlers. Alaska and Virgin America lead the pack. Delta Air Lines, which has led the reliability push at big airlines, continued its improvement. Southwest and United Airlines had turnaround years, though United still lags behind many competitors.
TODAY'S VIDEO
Powerball: $1.5 Billion Winning Numbers Announced
That Was Painless
Lottery officials have announced the winning numbers for Wednesday night’s Powerball jackpot. A winning ticket was sold in Chino Hills, California.
TOP STORIES
U.S.

Republicans and Democrats Agree: We Hate Wall Street

FDA Took 17 Months to Notify Doctors on Scopes’ ‘Superbug’ Dangers
WORLD

EU Launches Review of Polish Government’s Court Changes

Istanbul Suicide Bomber Entered Turkey as Syrian Refugee, Officials Say
BUSINESS

General Electric to Move Headquarters to Boston

Cities Rethink Sports-Stadium Deals
MARKETS

Not Too Big to Fail. Too Expensive to Exist

Anheuser-Busch InBev Bonds Are a Hit
NUMBER OF THE DAY
10%
The approximate increase in the price of cocoa last year—the best performer in the S&P GSCI commodity index. Chocolate makers are feeling the pressure to feed rising demand.
QUOTE OF THE DAY
There is a nasty and ignorant view of Wall Street, but I don’t see it translating into a legislative bloodbath for banks...But the industry needs to spend more time educating people
Gregory Valliere, chief global strategist of Horizon Investments, an asset manager, on banker bashing by presidential candidates on the left and the right.
TODAY'S QUESTION
What are your thoughts on the anti-Wall-Street sentiment among candidates? 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 the State of the Union, Tom S. Bruce, Jr. of North Carolina commented: “If that speech had been delivered by a recognized non-partisan or even Chief Justice Roberts, it would be hailed as a great lesson on governing rather than being derided by the opposition. I was also struck by the similarity (minus the few partisan remarks) of Governor Haley’s speech to that of the president.” Mike Schiller of Arizona said: “As always, President Obama is an eloquent, uplifting speaker who paints pictures of what can be. Too bad he lacked Bill Clinton’s ability to roll up his sleeves and work with people.” Bob Harris of New Jersey wrote: “At this point no one cares. It’s like watching the ninth inning of a runaway baseball game as people leave the arena to try to beat the traffic. All eyes are on the next presidential election.”
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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