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

The Wall Street Journal
Good morning,
Border Skirmishes
A federal appeals court, based in San Francisco, is set to rule as soon as this week on President Trump’s executive order on immigration in a decision that may have more influence—and last longer—than usual because of the longstanding vacant seat on the U.S. Supreme Court. The Ninth U.S. Circuit Court of Appeals early Sunday morning denied a request from the Justice Department to immediately restore the executive order after U.S. District Judge James Robart, a federal judge in Seattle, late on Friday issued a restraining order against enforcement of the travel ban. Over the weekend, Mr. Trump repeatedly criticized Judge Robart’s ruling. For now, immigration agents aren’t enforcing Mr. Trump’s Jan. 27 order, which suspended entry to the U.S. for visitors from seven predominantly Muslim countries for at least 90 days and sought to freeze the entire U.S. refugee program for four months.


Friends of Enemies
The Trump administration is exploring ways to break Russia’s military and diplomatic alliance with Iran in a bid to both end the Syrian conflict and bolster the fight against Islamic State. Senior administration, European and Arab officials involved in the policy discussions say the emerging strategy seeks to reconcile Mr. Trump’s seemingly contradictory vows to improve relations with Russian President Vladimir Putin and to aggressively challenge the military presence of Iran in the Middle East. Such a strategy doesn’t entirely explain the mixed signals Mr. Trump and his circle have sent regarding Moscow, which have unnerved U.S. allies and caught Republican leaders in Congress off guard. Persuading Mr. Putin to break with Tehran would be immensely difficult. Nor would Mr. Trump be the first U.S. president to pursue the strategy: The Obama administration spent years trying to coax Russia away from Iran.
Return to Form
The six biggest U.S. banks could return more than $100 billion in capital to investors over time through dividends and share buybacks if the Trump administration succeeds in a push to loosen bank regulation. After Mr. Trump on Friday signed a memorandum ordering a review of the Dodd-Frank Act, bank stocks gained ground, building on sharp increases since the presidential election. The top six U.S. banks have $101.57 billion in capital in excess of what regulators require them to set aside. While the Trump administration couldn’t directly change capital requirements, it could influence them, as well as the Fed’s stress tests, through its appointments to regulatory bodies. Still, as much as shareholders would welcome greater capital returns, such a move would create risks.
Back from the Dead
For three quarters Sunday night, the Atlanta Falcons took nearly every bit of suspense out of Super Bowl LI. But with the game in danger of becoming a snoozer, the New England Patriots didn’t merely make it competitive. They pulled off a comeback for the ages—the largest in Super Bowl history. Down 25 points at one stage and 19 points at the start of the fourth quarter, the Patriots dominated the rest of the way and won, 34-28, in overtime, giving New England its fifth championship since 2001. The Falcons remain without a championship in their 51-year history. Meanwhile, ads during the game split between humor and messages of unity. Light spots provided respite, while several companies ventured into potentially controversial political territory. Sports columnist Jason Gay looks to the future, asking how America’s biggest sporting event might look a few decades from now.
Fit to Jump
That Was Painless
Debbi Brawley took her first skydive to celebrate her 55th birthday. Now with more than 400 jumps under her belt, she hopes to inspire other women her age.

Fiscal Hole Will Test President Donald Trump’s Agenda

Few Recall Gorsuch’s Volunteer Work at Harvard

Al Qaeda Urges Followers to Hit Back at U.S. Following Yemen Raid

Colombian Rebels Start Their Transition to Peace

Hospitals Fear Changes to Health Law, Press GOP on Revenue Concerns

Why Snapchat Is the New TV

Retirement Rule Under Review: What Individual Investors Need to Know

Signs of Shift in Oil Balance Draw Investors Back In
The approximate number of civilians killed or injured in Afghanistan last year, according to a United Nations report, a record high amid rising armed clashes between the country’s coalition-backed government forces and the Taliban.
The idea, which had been accepted in Mexico, that we were a part of—a poor part of, but part of—North America has been destroyed.
Lorenzo Meyer, a leading Mexican historian, on escalating tension between the U.S. and Mexico, which has called into question whether the two countries’ friendship will endure, or whether they will revert back to 170 years of hostility.
What do you predict for the future of U.S.-Mexico relations? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to Friday’s question on Dodd-Frank, Len Hartkemeier of California wrote: “Mr. Trump and Congress need to gut Dodd-Frank and let big banks be big banks. A big and great U.S. economy needs big and successful banks. Sure, prevent the irresponsible from abusing their power, but let good big bankers flourish.” Charlie Van Pelt of Florida shared: “Because many banks are whining about lower profits and there are parts of Dodd-Frank even its supporters agree need to be adjusted, industry revisionists are finding it easy to use the law as a punching bag. Hopefully the baby will not be thrown out with the bath water, since parts of Dodd-Frank, such as higher capital requirements for larger banks and excluding them from risky investments like derivatives, are key to preventing another crippling recession.” And Bob Jones of New Jersey said: “Burdensome regulations like Dodd-Frank only make it more difficult for small, innovative competitors to enter the market. The market share of large banks has expanded significantly since the passage of Dodd-Frank and many smaller banks have been forced to close or merge. This hurt competition and creates economic rents for large banks.”

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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