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

The Wall Street Journal
Good morning,
Hillary’s Moment
Hillary Clinton accepted the Democratic Party’s nomination for president Thursday, casting herself as a leader whose steadiness and unifying approach stand in contrast with her opponent. Following a personal introduction by her daughter, Chelsea, Mrs. Clinton repeatedly slammed Donald Trump, while recognizing that many Americans don’t like her much, either, and outlined a plan to boost jobs, increase infrastructure spending and overhaul immigration. She leaves the DNC with a largely unified party, having put forth a portrait of the country that is not just different from the one the Republicans offered last week, but almost its opposite, writes our Washington bureau chief Gerald F. Seib. Her first order of business now is a bus trip through the electoral battlegrounds of Pennsylvania and Ohio as she looks to parry with Mr. Trump in the Rust Belt. Meanwhile, we report that owners and employees of hedge funds have generated nearly $48.5 million for groups working on Mrs. Clinton’s behalf. The total for Mr. Trump is about $19,000.

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Out of Ammunition
The Bank of Japan announced a modest dose of stimulus Friday in a sign that it may be running up against the limits of monetary policy, underwhelming investors who expected a bolder move to complement a new government spending plan to jolt the economy. The central bank said it would buy $57 billion worth of exchange-traded stock funds annually, but it didn’t change its target for purchasing Japanese government bonds or reduce its main interest rate—already in negative territory. Markets initially reacted with disappointment, with the Nikkei Stock Average tumbling before bouncing back, and the yen rising against the U.S. dollar. People inside and outside the central bank have already suggested that it couldn’t expand its bond purchases much further without provoking instability in the market, a view that is likely to gain strength after Friday’s decision.
The Mobile Advertising Age
Google parent Alphabet said Thursday that quarterly profit soared 24%, the second internet giant in two days, following Facebook, to report blockbuster earnings driven by consumers’ rapid shift to mobile devices. Companies bought more ads on Alphabet’s search engine and other products, while users increasingly clicked on those ads. Revenue, fueled by advertising, rose 21% to $21.5 billion in the second quarter from a year earlier. Google’s success capturing advertisers and users as they shift to mobile devices is helped by its Android smartphone software, which gives its search engine and other services top billing on more than a billion devices. Advertisers’ spending on mobile search ads increased 63% in the second quarter from a year earlier, while overall search-ad spending rose just 10% over the period.
Going for Gold
They vault higher, swim faster, punch harder and kick more violently than ever. They are the women of the U.S. Olympic team, the main reason our reporters project Team USA to win both the gold and overall medal races at the Games of the 31st Olympiad beginning next week in Rio de Janeiro. Star gymnast Simone Biles, swimming sensation Katie Ledecky and several breakout starts are ready for the Games to start—whether or not Rio is. The scrutiny facing Rio epitomizes the changing perception of the Games in the 21st century, writes our sports columnist Jason Gay. The fairy tale-haze over the Olympics has lifted, but great accomplishments are still possible. We take a look at why Brazil enlisted many of its athletes in the military, what makes Usain Bolt the fastest-ever human and how Olympic basketball differs from NBA basketball.
TODAY'S VIDEO
Edible Forest
That Was Painless
A so-called floating food forest, built on a 130-by-40-foot barge currently floating in the Bronx River, aims to rethink the use of New York City’s public lands with free food available for foraging.
TOP STORIES
U.S.

FDA Tells Two South Florida Counties to Stop Blood Donations Over Zika

Obama Chooses Jackson Park in South Chicago for Library
WORLD

Nusra Front Says It Has Severed Ties With al Qaeda

Islamic State Threat in Europe Shifts
BUSINESS

Amazon Posts Another Blockbuster Profit

How Mobile Games Rake In Billions
MARKETS

Oil Nears a Bear Market

In Derivatives Trading, London is King
NUMBER OF THE DAY
$9.3 Billion
The amount Oracle agreed to pay to buy NetSuite, a cloud-computing pioneer that counts Larry Ellison, Oracle’s chairman, as a major investor. The deal is raising questions about the role of Mr. Ellison, who is the biggest shareholder in both companies.
QUOTE OF THE DAY
For me it is clear: we will stick to our fundamental principles...These principles mean we will give asylum to those who are politically persecuted and we will give protection to those who flee war and expulsion according to the Geneva Refugee Convention.
German Chancellor Angela Merkel said she wouldn’t budge from her policy of accepting refugees despite two terror attacks by asylum applicants in the space of a week.
TODAY'S QUESTION
Going back to our story above, what are your predictions for the Rio Games? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s question on the Federal Reserve opening the door to an interest rate increase later this year, Jay Davidson of Colorado said: “One might want to consider Fed Chairwoman Janet Yellen’s words politicized, coming as they did in the middle of the Democratic convention and with little evidence of an improving economy.” Daniel Souza of Connecticut commented: “The Fed is walking a tightrope between a U.S. economy that is improving and could justify a rate increase on the one hand, and a problematic global environment that is still slowing down, on the other. It is a policy dilemma that will likely plague policy makers here and confuse the markets for some time to come.” William E. Dove of Alabama opined: “No increase in rates until after the election. The Fed is not supposed to meddle in politics.” And Slade Howell of North Carolina added: “Raising rates would be the ultimate ‘stress test’ of our economy, unlikely to occur before the upcoming election. That is, unless Ms. Yellen has decided to become a Trump supporter.”
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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