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

The Wall Street Journal
Gerard Baker is away. Today’s 10-Point is by Deputy Editor in Chief Matt Murray. Follow him on Twitter @MurrayMatt.
Good morning,
Trump on the Stump
Donald Trump blasted Hillary Clinton in an economic-policy speech that sought to pick off some of her supporters and stabilize his campaign after a rocky week. Mr. Trump fused his populist message with appeals designed to win support from the left, alongside a full embrace of policies on regulation and energy production to try to please skeptics on the right. In St. sburg, Fla., Mrs. Clinton fired back, dismissing her rival’s plans as a repackaging of old Republican ideas. Washington bureau chief Gerald Seib said Trumpism—a populist mix of anger at the status quo, skepticism about free trade and immigration, fondness for law and order and a dose of nationalism—is a combination of attitudes that existed before Mr. Trump’s rise, and may not be dependent upon to his fate.
Atrocity in Pakistan
Militants detonated a bomb in a crowd of lawyers in Pakistan, killing at least 69 people on Monday. More than 100 others were injured in the attack. Two jihadist groups, Jamaat-ul-Ahrar and Islamic State, claimed the attack. Authorities said a suicide bomber struck outside a hospital in the southwestern city of Quetta, in Balochistan province. The attorneys had gathered to mourn a colleague whom militants had shot dead, and whose body had been taken to the hospital, officials said. “The terrorists first targeted the lawyer, and they knew the body would be brought to the hospital, even if he was only wounded, and people will gather,” said Sanaullah Zehri, chief minister of Balochistan. Officials said the bombing was intended to destabilize a nascent trade network linking Pakistan with China.
Low Interest
Policy makers in Europe and Japan have turned to negative rates to stimulate their lackluster economies. Yet, instead of opening their wallets, many consumers and businesses are squirreling away more money. Recent economic data show consumers are saving more in Germany and Japan. In Denmark, Switzerland and Sweden, three non-eurozone countries with negative rates, savings are at their highest since 1995. Companies in Europe, the Middle East, Africa and Japan also are holding on to more cash. Tumbling interest rates are also motivating companies and government agencies to “call” bonds at the fastest pace in four years, taking advantage of provisions that let them redeem securities under certain circumstances and save money by reissuing at lower rates.
Phelps Goes for Corporate Gold
Michael Phelps’s triumphant return to the pool Sunday night made it clear he is serious about extending his legacy as the most decorated athlete in Olympic history. It is unclear if adding to his historic medal collection will help rebuild the personal branding empire that was downsized after a brief retirement and a 2014 drunken driving incident. Phelps saw his sponsorship portfolio shrivel, and his agent says he is seeking to rebuild his corporate persona—with the Rio Olympics as his springboard. In other Olympics news, Lilly King of the U.S. set an Olympic record in winning the 100-meter breaststroke Monday night. Meanwhile, Jason Gay confronts the idea that the most compelling parts of U.S. men’s basketball team’s story are taking place off the court.
Aly Raisman Takes on the Balance Beam
That Was Painless
Aly Raisman, captain of the U.S. women’s Olympic gymnastics team, explains why the balance beam is the scariest event, and how the team will attempt to conquer it.

Zika Weighs on Businesses in a Miami Neighborhood

Boy, 10, Dies in Water Park Accident

Philippine President Duterte’s Crime-Fighting Tactics Come Under Fire

Japanese Emperor Akihito Indicates He Is Ready to Abdicate

Wal-Mart to Acquire for $3.3 Billion in Cash, Stock

Ferrero’s CEO Picks Up the Pace at the Chocolate Maker

New Rules and Fresh Headaches for Short-Term Borrowers

Chinese Traders Roil Commodity Markets
The approximate number of flights canceled on Monday by Delta Air Lines Inc. after a computer outage grounded thousands of passengers world-wide during the height of the summer travel season. The airline said it would likely cancel 250 more flights today, as a knock-on effect.
Later-stage companies that can’t raise capital or stop burning cash can either seek a profitable M&A outcome, or become a smoking black-hole by shutting down. The smoking black-hole scenario is the higher probability outcome.
Michael Kim, managing director of Cendana Capital, and an investor in Dollar Shave Club Inc., on the likely future of some startups that have seen their ambitions thwarted as capital markets tighten.
Going back to our story above, what are your thoughts on Donald Trump’s economic-policy speech? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Charity L. Scott
Responding to yesterday’s question on local governments opting for less debt over new infrastructure, Kim Early of California wrote: “Cities are not opting for less debt, they are opting for more pensions. It has been and continues to be inevitable that infrastructure spending by states and municipalities will be crowded out by the decision to pay an ever-increasing share of the taxpayers’ money for lavish and unsustainable pension and medical benefits.” Mary Thompson of New Mexico said: “I applaud this responsible action by governments. The volatile economy has forced reality into those who make these decisions.” And Leo Jubb of Maryland weighed in: “If I know I have a new expense, college tuition in the fall, is this a good time to add a screened porch because I’d like to have one? With an election not far away, and one party promising the sun, moon and stars, state and local governments would be imprudent not to hunker down and wait for the outcome before taking on new debt.”
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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