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

The Wall Street Journal
Good morning,
Wishing you a healthy and happy Thanksgiving! This is the last 10-point of the week. We will resume on Monday.
Don’t Lock Her Up
President-elect Donald Trump said he doesn’t “feel very strongly” about further investigations of onetime rival Hillary Clinton, backing away from fiery campaign rhetoric in which he pledged to appoint a prosecutor to probe her email server and foundation work. “I don’t want to hurt the Clintons, I really don’t,” Mr. Trump said in an interview with the New York Times on Tuesday. When pushed to say whether he had ruled out prosecution of Mrs. Clinton, he said: “It’s just not something that I feel very strongly about.” Mr. Trump also said he disavowed the so-called alt-right movement, which has been tied to racism and anti-Semitism, and indicated he is unlikely to disentangle himself from his business empire as fully as he previously suggested, raising questions about potential conflicts of interest while president.

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Beijing’s Opening
China is moving swiftly to capitalize in Asia on the apparent collapse of the U.S.-led Trans-Pacific Partnership, saying it hopes now to conclude its own Asia-wide trade pact in a step to broaden its influence as priorities shift under a new administration in Washington. Asian leaders are pressing ahead with talks on the 16-nation Regional Comprehensive Economic Partnership, which China has promoted as an alternative to the landmark Pacific trade agreement. The push to conclude the RCEP underscores the region’s embrace of free trade and pushback against growing skepticism in the U.S. and in Europe. Mr. Trump has vowed to withdraw from the TPP. Meanwhile, we report that a jump in Chinese imports made parts of the Midwest and Southeast more receptive to Mr. Trump’s anti-China, anti-free trade message.
Discount Wars
As department stores gear up for the holiday shopping frenzy that unofficially gets under way this week, behind the scenes they have been locked in a battle with some big-name suppliers over rampant discounting. More brands, including Michael Kors, Coach and Levi Strauss, want to be excluded from storewide promotions such as “Friends & Family” sales. Their goal is to gain control of their pricing, even if it means shrinking sales. Labels with strong sales and customer pull have more power to negotiate terms with retailers. Department stores say they want to curtail discounts, but worry about turning off deal-hungry shoppers. Now, the issue is upending the delicate relationship between brands and retailers.
Turkey Talk
When it comes to Thanksgiving, Americans have no trouble tracking down a turkey worthy of being the centerpiece of their holiday table. Some 46 million of the birds are expected to be devoured on the big day. But good luck finding a turkey egg. Though they take a back seat to the chicken variety, turkey eggs have become a prized delicacy of late, praised for their creamy texture and rich taste. But the eggs are generally in short supply. Turkey farmers make far more money raising their birds for meat, and turkeys produce far fewer eggs—about two to three a week—than chickens. Still, certain chefs and bakers have managed to get their hands on some for special recipes this year. Continuing in the holiday spirit, our Sports columnist Jason Gay offers his sixth edition of the Rules for Thanksgiving Family Touch Football.
TODAY'S VIDEO
Best Tech Gifts 2016
That Was Painless
Our Personal Technology columnists Geoffrey A. Fowler and Joanna Stern have reviewed hundreds of gadgets throughout the year. These are their top picks.
TOP STORIES
U.S.

Mitt Romney Leads Donald Trump’s Picks for Secretary of State

Fentanyl Billionaire Comes Under Fire as Death Toll Mounts From Prescription Opioids
WORLD

Barack Obama Warns Donald Trump on North Korea Threat

To Fight Grievances, Russian Farmer Takes Road to Vladimir Putin’s Kremlin
BUSINESS

Dr Pepper, Pepsi Snap Up Alternative Beverage Makers

Chicken Prices Under Scrutiny as New Rules Set to Kick In
MARKETS

Credit Suisse’s Old Boss, Brady Dougan, Is Getting Back in the Game

Wall Street Is Betting $2.1 Trillion That U.S. Rates Will Rise
NUMBER OF THE DAY
19023.87
The Dow Jones Industrial Average’s record close on Tuesday, extending a stretch of milestones for major U.S. stock indexes. The blue-chip index has climbed 1,000-plus points over 12 days to cap a postelection stock rally.
QUOTE OF THE DAY
The more we learn, the more concerned we are.
CDC Director Tom Frieden on new evidence that suggests that even babies who appear normal at birth may later have impairments from the Zika virus.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on Mr. Trump pulling back on his Clinton investigation rhetoric? 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 four U.S. stock indexes closing at records on the same day, Jan Rogers Kniffen of Connecticut commented: “It seems that the ‘end of the world as we know it’ that was predicted if Mr. Trump won the presidency only lasted about four hours on election night as far as Wall Street is concerned.” Roy Farrow of Nevada weighed in: “Reversal of eight years of the relentless anti-business rhetoric and actions emanating from Washington is imminent, so the markets can look forward to utilizing traditional metrics, rather than low interest rates, to measure security prices. And, they appear to like what is projected.” And Mike Wilkins of Virginia said: “Do the words ‘irrational exuberance’ mean anything to investors anymore? Looking back at historical charts, big gains precede huge corrections. The so-called ‘Trump rally’ fundamentally has limited support from facts, since Mr. Trump will be struggling with the GOP Congress as well as Democrats, since the GOP secured their majority on saving money and not spending it…It would be great if this rally was real and we could all get rich in the market. However, I feel that it will deflate just like Mr. Trump’s supporters when they see that he cannot or will not deliver them what he promised.”

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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