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

The Wall Street Journal
Good morning,
Leap Monday
Donald Trump’s rivals launched last-ditch efforts yesterday to derail the Republican presidential front-runner’s campaign, intensifying the competition ahead of voting Tuesday in 11 states that could all but seal the race’s outcome. Sens. Marco Rubio and Ted Cruz charged that Mr. Trump failed to denounce white supremacists and attacked him for declining to release his income tax records. But both Mr. Trump and Democratic front-runner Hillary Clinton are poised to pull decisively ahead of their rivals on Super Tuesday. Mrs. Clinton rode overwhelming black support to a landslide victory in South Carolina’s Democratic presidential primary over the weekend, and she is hoping for similarly lopsided wins in a swath of Southern states. Meanwhile, her rival Sen. Bernie Sanders said he still sees a path to the nomination.
New Aristocrats
Suddenly, boring is beautiful in the stock market. As investors lick their wounds from early-year troubles for stocks, they are dumping shares in fast-expanding industries such as technology and turning to companies paying hefty dividends. This year, stocks in the S&P High Yield Dividend Aristocrats Index—companies in the S&P Composite 1500 that have increased their dividends every year for at least 20 years—are up 1.91%, including dividends, compared with a negative total return of 4.3% for the S&P 500 index. Part of the reason dividend payers are in heavy demand: Investors have decided a series of interest-rate increases this year by the Federal Reserve now appear less likely than a few months ago, thanks to declining global-growth prospects and the adoption of negative interest rates in Japan. We also take a look at everything you need to know about negative rates.
The U.S. is so awash in crude oil that traders are experimenting with new places to store it: empty railcars. There are plenty to choose from: Thousands of railcars ordered up to transport oil now sit idle because current ultralow crude prices have made shipping by train unprofitable. Meanwhile, traditional storage tanks are filling up as U.S. oil inventories swell to their highest level since the 1930s. The combination of cheap oil and surplus railcars has created a budding new side business for traders. Producers and shippers who signed long-term leases for the cars during the fracking boom are stuck paying high monthly rates, but traders can pay those prices and still profit. Meanwhile, the number of oil rigs operating in the U.S. oil patch dropped to the lowest level in more than five years last week.
The Future in 3-D
Marry carbon fiber and 3-D printing and things get interesting, writes our technology columnist Christopher Mims. Carbon fiber, a man-made material used in airplanes, race cars and wind turbines, is stronger, ounce for ounce, than steel or aluminum, but is usually expensive and surprisingly labor intensive to make. Now companies are working to make carbon fiber with 3-D printers, opening up possibilities from making light but strong parts for drones and other aircraft to replacing materials in many everyday objects. The chief executive of a company that sells a machine that 3-D prints carbon-fiber composites says: “We give you the strength of metal for the cost of plastics.” And a competing technology aims to replace injection molding with carbon-fiber 3-D printing using the same principles as an inkjet printer. Traditional manufacturing won’t go away, but it may never be the same again.
Glamour and Glitz
That Was Painless
The 2016 Oscars brought out the biggest names and the most glamorous fashion. Catch up on the night’s festivities with our recap and the complete winners list.

One Way to Make Mortgages Easier to Get

Flint’s Poorest Area Is at Center of Crisis

Islamic State Launches Attacks in Baghdad

Moderates Win Majority in Tehran in Iranian Elections

FCC Probes Cable Firms’ Influence on Web TV

A Clash of Cultures at Alabama Factory

China Cuts Reserve Requirement for Banks

Africa’s Richest Woman Draws Scrutiny Over Source of Wealth
$3.5 billion
The potential gain in new tax benefits for Google parent Alphabet if Intel wins its international tax dispute with the IRS.
That view is dead wrong: The babies being born in America today are the luckiest crop in history.
In his annual letter to Berkshire Hathaway shareholders, Warren Buffett highlighted his optimism and chided this year’s presidential candidates for being downbeat about America’s prospects.
What are your thoughts on Mr. Buffett’s confidence in the American economy? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to Friday’s question on Apple’s response to the FBI’s court order that it help unlock a terrorist’s phone, Penn G. Johnson of Connecticut wrote: “Homeland security must supersede an individual’s right to private communications. Those that will be offended by Apple’s cracking their code must have something to hide…Those of us that have nothing to hide should not be left with impaired safety in order to protect the rights of a few.” But Larry Day of Maryland weighed in: “If Apple were directed to create software to meet the FBI’s demand and it were to fall into the wrong hands, U.S. citizens would potentially be trading the contents of a single dead terrorist’s phone for cyberterrorists’ access to the contents of any iPhone which they come to possess or could access wirelessly.” And Jill Siegers of Michigan commented: “Apple is correct to resist the court order. They are being good Americans by doing so. The FBI is looking to set a precedent for the law enforcement community. This controversy needs to go through all of the proper constitutional channels.”
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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