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

The Wall Street Journal
Good morning,
Small Stocks, Big Gains
Small companies led a cascade of records for U.S. stock indexes Monday. Investors betting that President-elect Donald Trump will roll back regulations and taxes while pumping money into infrastructure projects drove the Russell 2000 index of small-capitalization stocks to a record with its 12th straight session of gains, its longest winning streak since June 2003. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite Index also closed at records on the same day for the first time since Aug. 15. The last time the four major U.S. stock indexes closed at records on the same day was Dec. 31, 1999. Hopes for a pro-business combination of a Trump presidency and Republican Congress have lifted stocks broadly. But some analysts think smaller companies could benefit even more, because they are less exposed if Mr. Trump takes a more-protectionist approach to trade and if the dollar continues to rise. Global stocks followed the U.S. indexes higher today, continuing the postelection rally.


Trump’s To-Do List
Mr. Trump said on Monday he has ordered his transition team to draft a list of executive actions he could take “on day one to restore our laws and bring back our jobs.” In a 2½-minute video posted on YouTube, Mr. Trump communicated directly with the public about his agenda for his first days in office for the first time since he won the Nov. 8 election. His video included six calls for action on trade, immigration, energy, regulatory curbs, national security and ethics changes, most of which have already been announced either during the campaign or the transition period. Mr. Trump didn’t mention action on the Affordable Care Act, his proposed wall along the southern border, the tax code or the Iran nuclear deal, all of which were central platforms in his election. Meanwhile, we report that while an abrupt withdrawal from the Nafta trade deal is unlikely, Mr. Trump and his advisers are gunning for big changes.
Terror Ties
Your Thanksgiving turkey may have some troubling connections. We report that an American food producer that counts Butterball turkeys among its brands has done millions of dollars of business in Africa with a company blacklisted by U.S. authorities for supporting terror. U.S. companies are barred from doing business with people and entities named on the government’s designated-terrorist list. The Justice Department, as part of a broad criminal probe, is investigating whether Kansas-based Seaboard tried to mask wheat-flour sales to firms linked to a Lebanese businessman and his family in the years after he and two brothers were put on the government’s terror blacklist in 2009 and 2010.The brothers are alleged to have given tens of millions of dollars to Hezbollah, the Shiite militant group backed by Iran, U.S. officials said.
Prime Time
Amazon is exploring an ambitious push to infiltrate the last bastion of traditional pay-television: live sports. In recent months, the e-commerce giant has been in talks with heavy hitters like the NBA, MLB and the NFL for the rights to carry live games. It also has talked with soccer, lacrosse and surfing leagues. With at least some leagues, including the NBA, Amazon has floated the idea of creating an exclusive premium sports package available with its Amazon Prime program, though the details are unclear. Such a package could attract new members to the $99-a-year Prime program, as well as to a “skinny bundle” of live online channels that Amazon is pursuing. If Amazon is successful in breaking into the premium-sports market, it could pose a significant threat to traditional pay TV.
Pocket Drone
That Was Painless
DJI Mavic Pro Review: Our Personal Technology columnist Geoffrey Fowler reviews the flying camera photographers have been waiting for—and it isn’t from GoPro.

San Antonio Police Arrest Suspect in Officer Shooting

Embattled Democrats, Labor Allies See Nevada as a Beacon

Global Competition to Cut Corporate Taxes Heats Up

François Fillon Gets Edge in Presidential Primary with Conservative Platform

Tyson Shares Slide as Company Names New CEO and Warns on Profit

Farmers’ Grain Bounty, Crop Exports Buoy U.S. Railroads

America First? That Puts Emerging Markets Last

Fidelity Chief Abigail Johnson to Succeed Father as Firm’s Chairman
$21 billion
The value of an all-stock deal in which Sunoco Logistics will buy Energy Transfer Partners, combining and simplifying a network of giant pipeline firms controlled by Dallas billionaire Kelcy Warren.
I wish to restate as firmly as I can that abortion is a grave sin, since it puts an end to an innocent life...However, I can and must state that there is no sin that God’s mercy cannot reach and wipe away when it finds a repentant heart seeking to be reconciled with the Father.
Pope Francis on Monday indefinitely extended the power of priests to forgive Catholics for any participation in abortion, one of his signature gestures from the Catholic Church’s just-ended Jubilee Year of Mercy.
Going back to our story above, what are your thoughts on the four U.S. stock indexes closing at records on the same day? 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 advertisers grappling with the election results, Peggy O’Shaughnessey of Michigan said: “I am so sick of reading that the tone-deaf have discovered there are actually people living in “Middle America.” We have been ignored for so long, it’s really quite shocking to have been rediscovered, as if we just landed here from some alien planet!” Frank Abbott of Virginia wrote: “In advertising, the white middle-aged male is typically portrayed as a buffoon...Perhaps we will see this trend change in the coming years.” And Logan Kendrick of Texas shared: “The irony of the presumed intellectually superior and progressive urban minds just now realizing that they are out of touch with rural America is both comical and sad.”

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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