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

The Wall Street Journal
Good morning,
Debate Day
Donald Trump and Hillary Clinton meet tonight in their first of three head-to-head debates and it seems that there remain enough undecided and loosely committed voters that the showdown at Hofstra University in New York could produce one more pivot point in the campaign. A new Wall Street Journal/NBC News poll found that 34% of registered voters think the three presidential debates would be extremely or quite important in helping them decide whom to support for president. About 11% of voters are considered “debate persuadables.” Meanwhile, the two candidates are likely to recite their varied promises for fresh government spending at tonight’s first presidential debate but one reality they’re unlikely to note: Whoever wins in November will enjoy far less latitude to spend money or cut taxes than any president since World War II. For the first time in decades, the new president will face the specter of widening deficits despite a growing economy.
Stuck in Reverse
The third quarter was supposed to be when earnings growth returned to U.S. companies. Not anymore. Companies in the S&P 500 are now expected to report an earnings decline for the sixth consecutive quarter. As recently as three months ago analysts estimated corporate earnings growth would return by the third quarter but, as of Friday, they were forecasting a 2.3% contraction from a year earlier. A stronger dollar and falling oil prices have abated recently but that hasn’t been enough to bring an end to the earnings recession. The energy sector is expected to again report the largest year-over-year earnings decline of all sectors in the S&P 500, with a drop of 66% projected. The prolonged contraction has raised questions about how far stocks can rise without corresponding strengthening in corporate earnings.
Syrian Tragedy
Syria and its Russian allies have pressed an assault on Aleppo amid what the U.N. called the most intense bombing in years of warfare there, and residents say hundreds of civilians have been killed since a cease-fire fell apart last week. “Bunker buster bombs” have left large craters in the rebel-held part of the divided city, Aleppo residents said, and caused shock waves felt blocks away from the point of impact. The U.N. Security Council held an emergency meeting on Sunday over the bombardment. Meanwhile, momentum is growing on Capitol Hill for new sanctions against supporters of Syrian President Bashar al-Assad’s regime, while the collapse of the cease-fire has scuttled hopes that the U.S. and Russia would be able to cooperate in a meaningful away in fighting Islamic State and other militant groups.
Healthy Forecast
There’s a revolution taking place in emergency medical services, and for many it could be life-changing. Thanks to new technology, new lifesaving techniques and new missions, ambulance crews are far from the “horizontal taxicabs” they once were. In our Innovations in Health Care report, we take a look at some of the most important changes happening in EMS care around the country, how physicians and physicists are joining forces to fight pancreatic cancer, why some health-care innovations don’t succeed in developing countries and what is being done to protect young patients from deadly medication errors. We also report that doctors and hospitals are creating ever more complex algorithms to forecast their patients’ medical futures.
TODAY'S VIDEO
Star Pitcher
That Was Painless
José Fernández of the Miami Marlins was one of three people killed in a boat crash early Sunday morning. The Cuban-born right-hander was 24.
TOP STORIES
U.S.

Jobs Recovery Reaches Plateau, Posing a Challenge for Forecasters

Police Videos Fail to Quiet Protests in Charlotte
WORLD

Big Spending on Warplanes Spurs Aerial Arms Race

Saudi Women Ask King to Bring an End to Male Guardianship
BUSINESS

Apple Goes Without a Lobby Into European Fray

West Elm to Launch Its Own Boutique Hotels
MARKETS

Stocks Down as Banks, Energy Companies Fall

Banks Face Costly, Complex Technology Upgrades
NUMBER OF THE DAY
62
Arnold Palmer’s career wins on the PGA Tour. “The King” of golf, who won seven major titles and was largely responsible for making the game a spectator sport for the masses, died Sunday at the age of 87.
QUOTE OF THE DAY
I know he was big on guns, his reputation wasn’t great...He wasn’t right in the head, and as much as it pains me to say it, I wouldn’t have put something like this past him.
Bryce Diras who attended Oak Harbor High School with Arcan Cetin, who police say opened fire at a Macy’s cosmetics counter Friday night at a mall north of Seattle, killing four women and one man.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the changes taking place in emergency medical services? 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 Friday’s question on Mrs. Clinton’s proposal to increase the top-rate estate tax to 65%, Jack Houlgate of Florida said: “It is about time. And trusts shouldn’t be a way out. We do not want to perpetuate an elite royalty type class which is what we have been doing. A billionaire’s offspring will suffer with the $350,000,000 left over for them.” But Mike Means of Oklahoma wrote: “It is quite simply immoral. Every bit of income that goes into building an estate is taxed. For the government to tax it again at someone’s death is just wrong. There should be no death tax period. And this is from a person who doesn’t have an estate that would be taxed at all anyway.” And Wallace Vander Bockel of Kentucky weighed in: “Steep estate taxes just fuel the growth of tax havens and Panamanian law firms. Better to tax capital gains at the same progressive rates as earned income, and eliminate the basis step-up at death.”
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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Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.   

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