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

The Wall Street Journal
Good morning,
Center Court
A turbulent election year has become more volatile still with the sudden death of Supreme Court Justice Antonin Scalia. The fight over the opening created by Justice Scalia’s passing has moved to the center of the presidential campaign. Senate Majority Leader Mitch McConnell’s insistence that the next president fill the vacancy has won broad support from fellow Republicans. GOP opposition means President Barack Obama may have to eliminate candidates he might favor in a different political climate. And even if the Senate were to consider his selection, the nominee would first have to confront the polarized politics of the Senate Judiciary Committee. The GOP could also face dilemmas of its own if the president nominates a moderate who previously garnered Republican support. We take a look at some candidates who could be in the mix. The loss of Mr. Scalia, in the meantime, could affect the outcome of major decisions on issues such as abortion, immigration and religious freedom.
The Young. And the Restless
For the first time, millennials will match baby boomers as a share of the U.S. electorate. But the political consequences of this demographic shift are murky. Results in early contests show millennials, about half of whom don’t identify with either party, are a concern for both Republicans and establishment Democrats. Meanwhile, some are questioning the quality of the Trump campaign’s ground game in South Carolina as staffers and volunteers augment the businessman’s star power with door knocking and data mining ahead of Saturday’s primary. John Kasich is betting big on Michigan, part of his strategy to focus his meager resources on states he thinks he can win. And Hillary Clinton made a campaign trip to northern Nevada on Monday, a key part of her strategy to maximize caucus turnout outside of Las Vegas, the state’s largest city.
Calm After the Storm
A global stock rally picked up pace in Asia today although the picture was more mixed in Europe. Oil prices rose and concerns eased about recent volatility in Chinese markets. The increases were a continuation from stock gains Monday in Europe and Asia. U.S. markets were closed yesterday for the Presidents Day holiday. Adding further optimism for stock investors, European Central Bank President Mario Draghi said the bank “will not hesitate to act” at its next policy meeting in March if recent financial-market turmoil or lower oil prices weigh on inflation. Meanwhile, energy ministers from Saudi Arabia, Russia, Qatar and Venezuela met in Qatar today and agreed not to increase output amid the current glut, news some analysts deemed bearish in a market that now expects cuts.
Liquor Is Quicker
The liquor industry—once the pariah of the alcohol world—is making a comeback. It is a remarkable resurgence for liquor, which for decades was dogged by concerns about its higher alcohol content and a 1980s increase in drunk driving accidents. By contrast, beer, the first alcoholic drink to be legalized after prohibition, became “America’s Beverage of Moderation.” Liquor’s increase in popularity comes as a result of a major cocktail renaissance, a return to television advertising, and the fickle tastes of younger drinkers whose generation switches between beer, whiskey and wine more frequently than ever before.
TODAY'S VIDEO
Grammy Awards 2016 in Two Minutes
That Was Painless
Taylor Swift, Kendrick Lamar, Ed Sheeran, and “Hamilton” are the big winners of the 2016 Grammys. Watch performances by Lady Gaga, Stevie Wonder, the Eagles, and more.
TOP STORIES
U.S.

Terror Convicts Pose Dilemma After Release From Prison

Mount St. Mary’s President Declines to Resign
WORLD

Hospitals in Syria Bombed as Fighting Escalates

Brazil State Bans Pesticide After Zika Claim
BUSINESS

Fantasy Sports Industry Mounts Lobbying Blitz

IBM Bets on Bitcoin Ledger
MARKETS

Hong Kong Looks for Answers After HSBC Opts to Stay in London

Streetwise: Markets Putting Faith in QE4?
NUMBER OF THE DAY
132.8 million
The amount of money that “Deadpool” grossed this weekend though Sunday, surpassing the prior record for an R-rated opening weekend of $91.8 million set by “The Matrix Reloaded” in 2003.
QUOTE OF THE DAY
Elections don’t move in a straight line, but after last night, investors can’t dismiss the odds of an extreme election outcome that poses major risks to the stock market.
Andy Laperriere, head of fiscal policy research at Cornerstone Macro, wrote to clients the day after Messrs. Trump and Sanders won New Hampshire’s Republican and Democratic primaries.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on President Obama nominating a Supreme Court justice? 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 last week’s question on Facebook policy on terrorist content, Russ Porter of Connecticut commented:“I see two potential problems here. First, the definition of a terrorist—are the Syrian rebels a terrorist group? Is the Syrian government? That really depends on who you ask, and Facebook has just deemed themselves as judge. Second, courts have said that businesses serving the public must serve all of the public, not just those they agree with. Would this policy by Facebook banning people, not just their actions, stand up to that scrutiny?” Meanwhile, Tom Lindholtz of California wrote: “All of us, and each of us, individual and corporate citizens alike, must take personal responsibility for the kind of world we live in. I salute Facebook’s policy as a corporate decision to improve the quality of everyone’s life.”
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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Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.   

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