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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,
Less in a Day’s Work
The longest slide in worker productivity since the late 1970s is haunting the U.S. economy’s long-term prospects. The goods and services produced each hour by American workers decreased at a 0.5% seasonally adjusted annual rate in the second quarter as hours worked increased faster than output, the Labor Department said Tuesday. That was the third consecutive quarter of falling productivity, marking the longest streak since 1979. Such sluggish productivity could prompt the Federal Reserve to keep interest rates low for years to come. The metric is a key ingredient in determining future growth in wages, prices and overall economic output.
Off-Script
Donald Trump touched off another firestorm with an off-the-cuff remark that critics interpreted as inciting violence against his Democratic rival. Speaking at a rally in North Carolina about how he claims Hillary Clinton as president would undermine gun rights under the Second Amendment, Mr. Trump said, “If she gets to pick her judges, nothing you can do folks.” He then added: “Although the Second Amendment people—maybe there is, I don’t know.” The comment came a day after his economic-policy speech that many Republicans hoped would be the start of a disciplined reboot. Mrs. Clinton, meanwhile, faced fresh hurdles of her own after a conservative watchdog group released a batch of new emails from the former Secretary of State’s personal server. The documents offered fresh examples of how top Clinton Foundation officials sought access to the State Department during her tenure. For now, Mrs. Clinton is ahead of Mr. Trump in three battleground states, according to the latest WSJ/NBC News/Marist polls conducted Aug. 3-7. The Democrat opened an 11-point lead in Pennsylvania, while holding slimmer advantages in Ohio and Iowa.
Receding Tide
Procter & Gamble, the biggest advertising spender in the world, will move away from ads on Facebook that target specific consumers, concluding that the practice has limited effectiveness. Facebook has spent years developing its ability to zero in on consumers based on demographics, shopping habits and life milestones. While P&G initially jumped at the opportunity to market directly to subsets of shoppers, its chief marketing officer, Marc Pritchard, now says the company has realized it took the strategy too far. P&G’s shift highlights the limits of targeted marketing for big brands—one of the cornerstones of Facebook’s ad business—and could be a bellwether on how consumer goods companies and major brands use digital advertising.
Golden Records
Day four of the Rio Olympics included big wins for the U.S., taking gold in gymnastics and swim events. In their red, white and blue leotards, the American women gymnasts smashed their astronomical expectations, winning the team gold medal by 8.209 points over their nearest competition—the highest margin of victory since 1960. At the aquatics stadium, Michael Phelps and Katie Ledecky put on a show, claiming gold in the men’s 200-meter butterfly and women’s 200-meter freestyle, respectively. At age 31, Phelps became the oldest male swimmer to win an individual event at the Olympics. Speaking of Olympic records, there is one that remains unanswered: Who was the youngest-ever Olympian? WSJ’s Joshua Robinson looks into the question that has perplexed historians for ages.
TODAY'S VIDEO
Decoding Teenagers
That Was Painless
New research suggests parents should take a more active role in the lives of teenagers as they navigate the stormiest years in their development. Once seen as a time for parents to step back, adolescence is increasingly viewed as an opportunity to stay tuned in and emotionally connected.
TOP STORIES
U.S.

Use of a Water Disinfectant Is Challenged

Justice Department Expected to Find Unconstitutional Practices Within Baltimore Police Department
WORLD

Turkey’s Erdogan Patches Up Relations With Putin

Yemen Seeks IMF Help to Cut Off Rebels
BUSINESS

Carriers’ Pacts Leave Delta Passengers in Lurch

Disney Makes Bet on Baseball Streaming
MARKETS

Appeals Court Upholds SEC’s In-House Court as Constitutional

WeWork Misses Mark on Some Lofty Targets
NUMBER OF THE DAY
$100 million
The amount that could be awarded to a group of whistleblowers who alerted authorities on State Street and Bank of New York Mellon’s alleged mistreatment of foreign-currency-trading clients. Harry Markopolos, known for warning on Bernard Madoff’s Ponzi scheme, and three of the banks’ former employees are in position to claim what would be the largest whistleblower award on record, according to WSJ analysis.
QUOTE OF THE DAY
So few women make it to this level. You don’t want to give them an example of, ‘Well she didn’t work.’
Melanie Cox, chief executive of retailer Wet Seal, on the extra scrutiny that female CEOs face and pressures of making the right calls given the rarity of women in top corporate ranks.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the recent slump in America’s business productivity? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Cynthia Lin
READER RESPONSE
Responding to yesterday’s question on Donald Trump’s economic-policy speech, Pam Pryor of Virginia said: “I will risk voting for Mr. Trump as opposed to Mrs. Clinton’s known failed policies. The economy is not in good shape. People are taxed too much and cutting the corporate rate would be a big boost... Mr. Trump is right: the burden of regulations is strangling business from Main street to the suburbs.” Mike Furlong of Alabama wrote: “I find his economic policies to be so much pie in the sky. While they sound good, he never realistically addressed where the money for his plan will come from. This, from my perspective, is the central problem in the proposals from both parties. They act as if money grows on trees and not as if money comes from producing something other people want.” And Tom Weil of Ohio said: “Many of his plans are attractive, but none of his character.”
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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