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

The Wall Street Journal
Good morning,
A New Frontline
The U.S. will have a new base from which to attack Islamic State. After months of tense negotiations, Turkey has agreed to allow the U.S. to launch fighter jets and armed drones from the country’s Incirlik Air Base, which until now has been used by the U.S. only to fly out unarmed surveillance drones. The move comes after attacks in Turkey killed dozens of people this week and amid increasing threats against the country from Islamic State. Turkish jets attacked Islamic State positions in Syria for the first time today as security forces launched nationwide dawn raids against the group’s network. Meanwhile, we report that despite international efforts last year to rid Syrian President Bashar al-Assad’s regime of chemical munitions that resulted in the removal of 1,300 metric tons of weapons-grade chemicals, intelligence officials believe it didn’t give everything up.
Prime Numbers
Amazon surprised investors by reporting a narrow profit, sending shares more than 17% higher in after-hours trading and pushing the online retail giant’s market value to about $264 billion, well past that of rival Wal-Mart. Strong sales growth at its cloud-computing division and better cost control helped the Seattle company beat analysts’ expectations of a second-quarter loss. Amazon has been criticized for its big losses, but the reaction to the $92 million profit on $23.18 billion in sales is a reminder of the modest income expectations for the company and will likely spur the question of whether this is the new normal.
A Healthy Bet
The Affordable Care Act may have served as political ammunition for some of U.S. President Barack Obama’s opponents, but one hedge fund saw it as something else—a smart investment. Glenview Capital Management laid the groundwork early, deciding as far back as 2007 that the health-care landscape was likely to shift, resulting in mergers for hospital companies and insurers—a wager that has given it more than $3.2 billion in realized and paper gains. Glenview owns shares in Aetna and Humana, which struck a $34 billion deal earlier this month, and its latest payday is expected from Anthem and Cigna, which today confirmed a $48 billion-plus tie-up.
Jefferson Davis Slept Here
Antebellum homes are experiencing something of a renaissance. Prices for historic houses near Civil War battle sites in several areas are rising, and inventory is moving faster than the national average, we report. Such real estate can be especially enticing to history buffs and Civil War re-enactors, for whom finding treasures from the period around the property can be an added bonus to proximity to battle sites. Owning these relics isn’t for everyone—annual maintenance costs can run into six figures and the pool of buyers tends to be small when it’s time to sell.
TOP STORIES
U.S.

Investigation Sought Into Hillary Clinton’s Emails

Denver Job Market Lures Millennials
WORLD

U.S.-Trained Iraqi Forces Deploy Near Ramadi

British Teen Admits to Advising on Australian Terrorism Plot
BUSINESS

Anglo American to Slash 53,000 Jobs

SEC Investigating Smirnoff Maker Diageo
MARKETS

Copper, Aluminum Prices Follow Gold’s Wake to Hit Multiyear Lows

U.S. Authorities Probe Banks’ Handling of FIFA Funds
TODAY'S VIDEO
NASA Finds Most Earth-Like Planet Yet
That Was Painless
At 1,400 light years away from Earth, scientists said they have discovered a planet they believe is the closest twin to our world ever found. Photo: NASA/JPL-Caltech/T. Pyle
NUMBER OF THE DAY
$1.2 billion
General Motors’ world-wide profit for the second quarter, up from $278 million a year ago when recalls and quality concerns weighed on earnings.
QUOTE OF THE DAY
I think I’ll win the Hispanic vote.
Donald Trump on a visit to the U.S.-Mexico border, also saying he would win the Republican Party’s 2016 presidential nomination.
TODAY'S QUESTION
What do you think about Mr. Trump’s comments on winning the GOP nomination? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Yogita Patel
READER RESPONSE
On yesterday’s question about cancer drug prices, Leonard Wojtecki of Illinois wrote: “I have a rare cancer in my esophagus which has spread to my liver and lymph nodes. It’s inoperable and incurable in its present stage. The cancer is now beginning to spread again. My oncologist explained my options, one of which involves a very promising clinical trial involving a drug that so far had good results. He said it wasn’t covered by insurance though and that I would have to pay for it myself. The cost is a million dollars a year. Why do the drug companies hold out hope when there isn’t any?” Susan Day of Pennsylvania commented: “Why are U.S. patients footing the bill for all of the research needs? For the same drug, patients in Europe pay a controlled price set by each government, once a government body has determined that a new drug is actually better—including an evaluation of any cost differences with the better benefits—than the drug it’s replacing.” Gregory F. Weaver weighed in from Texas: “R&D funding for new drugs is critical and must continue. What realm needs to be analyzed in depth is the markup of these drugs at the hospital level.” Robert J. Boyd, M.D., wrote from Massachusetts: “This needs serious review by a group of knowledgeable experts, preferably non-political in nature, such as the Institute of Medicine. We must determine the true nature and magnitude of the situation, and alternative ways to deal with this growing and very serious problem.”
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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