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

The Wall Street Journal
Good morning,
Hoosier Candidate?
Donald Trump and Hillary Clinton hope to get even closer to their parties’ nominations in Indiana today. Mr. Trump, with a big lead in the polls in the Hoosier state, kept attacking his rivals on the eve of the state’s primary. But Mrs. Clinton, who is locked in a tighter race there, all but ignored her opponent as she looked ahead to the general election. Sweeping Indiana’s 57 delegates won’t deliver Mr. Trump the 1,237 needed to secure the GOP nomination, but it would significantly ease his way toward doing that in the last primaries. The two front-runners provide an extreme study in contrasts, writes our Washington bureau chief Gerald F. Seib, with each strongest where the other is weakest. Meanwhile, the long Republican presidential primary has meant that voters in many more states are getting to participate than has been the case in the past.
Not So Rich
Puerto Rico’s debt crisis moved into a more perilous phase for residents, lawmakers and bondholders yesterday after the Government Development Bank failed to repay almost $400 million. The missed principal payment, the largest so far by the island, is widely viewed on Wall Street as foreshadowing additional defaults this summer, when more than $2 billion in bills are due. The risk of cascading defaults is putting new urgency on bipartisan negotiations in Washington over legislation granting the U.S. territory new powers to restructure more than $70 billion in debt. Yesterday’s developments are the latest sign that a long-running economic crisis has reached an acute stage, embroiling financial markets and Congress. Benchmark Puerto Rican bond prices fell to near record lows, with some investors paying less than 65 cents on the dollar for general obligation bonds maturing in 2035, an unusually low price.
Corporate Force
When North Carolina passed its law in March restricting certain gay rights, Marc Benioff was ready with his rapid-deployment response. He blasted tweets criticizing the law, marshaled support from other CEOs and dispatched staff to the state. The chief executive of has become a master promoter in the movement toward social activism among American chief executives, one that is increasingly widespread despite resistance from those in its focus. Executives have long sought to influence policy broadly through campaign contributions. What sets apart the new activist CEOs is how they use their names and corporate muscle to campaign directly against specific laws governing social issues, often at short notice, sometimes by threatening to withhold business. We report that while some have criticized his public posture as polarizing and time-consuming, Mr. Benioff’s corporate bully pulpit is enabled by company results that keep most investors from questioning his extracurricular activities.
Cry It Out
Getting an infant used to sleeping through the night may be one of the most-discussed topics by new parents, but the best method and age to do it is little researched by scientists. Doctors at a prominent pediatrics practice in New York and Los Angeles say babies as young as two months old can be taught to sleep through the night with a practice somewhat unsettling known as extinction, in which parents don’t intervene when a baby cries after bedtime. Despite many parents’ anxiety about allowing infants to cry at night, research shows such training methods don’t negatively affect children’s mental and physical health. Still, other leading pediatricians say four to six months seems a more natural time to try sleep training. What experts tend to agree on: How long a baby can be left to cry depends largely on the parent’s threshold.
Back to Havana
That Was Painless
The first U.S. cruise ship in nearly 40 years crossed the Florida Straits from Miami and docked in Havana yesterday, restarting commercial travel on waters that served as a stage for a half-century of Cold War hostility.

Colorado High Court Rules Local Bans on Fracking Are Illegal

Detroit Teachers Essentially Close Schools in Latest ‘Sickout’

U.S. Soldier Killed in Iraq by Islamic State Fire

U.S. Cites Better Intelligence for Stepped-Up Airstrikes on Islamic State

Baker Hughes Lays Out Cost Cuts, Buybacks After Halliburton Deal Dies

Grain Traders Rejecting New Soybeans Developed by Monsanto

Apple in Long Losing Streak

The Bank of China Takes Manhattan
The odds British bookmakers placed on Leicester City finishing first in the English Premier League when the season began 10 months ago. Yesterday the Foxes, which had never won a top-tier championship in their 132 years of existence, became the most improbable champions in English soccer history.
If Moqtada al-Sadr had wanted to bring down the system, he would not have ordered his supporters to leave the Green Zone. He had the opportunity to press for a full-on coup in recent days, and he did not pursue it.
Nussaibah Younis, an Iraq expert at the Atlantic Council in Washington, on the decision by Iraqi cleric Moqtada al-Sadr to have his supporters seize and then vacate parliament in Baghdad.
Going back to our story above, what are your thoughts on Puerto Rico’s debt crisis? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to yesterday’s question on the trading adage “sell in May and go away,” Samuel Holt of Washington, D.C. wrote: “All an adage like ‘sell in May and go away’ does is perpetuate a trend. Stocks fluctuate depending on market sentiment and expectations...Do away with the saying and we very well might see a strong summer.” Dave Doran of California weighed in: “This reminds me of one of my favorite quotes from Sir John Templeton: ‘To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude.’” Jacqueline Tillman Harty of Maryland shared: “My husband, a stockbroker, frequently says regarding the market that when everyone starts talking about it, it’s too late, you’ve probably missed the moment.” And Larry Stephens of Florida commented: “It seems to me that ‘timing’ is the most important element of successful equity management. If anyone knew the ‘secret’ to timing they would be the richest person in the world and they darn sure would not tell anyone.”
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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