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

The Wall Street Journal
Good morning,
Coal Country
President Trump on Tuesday took steps to begin unraveling the centerpiece of the Obama environmental agenda, signing an order to reverse rules aimed at pushing U.S. utilities to shift to cleaner-burning fuels from coal. “My administration is putting an end to the war on coal,” Mr. Trump said. But while the rollback is billed as a job saver, companies and energy experts said it is unlikely to reverse the U.S. utility industry’s economically driven shift to solar, wind and especially natural gas as leading sources of electricity. The order begins a formal review of former President Obama’s Clean Power Plan and pulls back climate-change guidance from the Council on Environmental Quality. We also report that more states are considering expanding their Medicaid programs under the Affordable Care Act, and GOP leaders signaled Tuesday they will avoid a government shutdown.


Stock-Picking Software
BlackRock is betting on robots rather than humans to make decisions on what to buy and sell. The firm has become the world’s largest asset manager, with $5.1 trillion in total assets, in large part because of its dominance in low-cost, passive investments such as exchange-traded funds. But its stock-picking unit—which depends on money managers to choose investments—has lagged behind rivals in performance, and clients have been withdrawing their money. The firm Tuesday announced an overhaul that will include job losses, pricing changes and a greater emphasis on computer models. BlackRock is offering its Main Street customers lower-cost quantitative stock funds that rely on data and computer systems to make predictions, an option previously available only to large institutional investors.
The China Drive
Tesla gained a potential ally in China when the country’s most valuable company, Tencent, bought a 5% stake in the Silicon Valley electric-vehicle maker. The $1.8 billion investment, revealed Tuesday, marks a vote of confidence in Tesla CEO Elon Musk, who is facing questions about his ambitious timetable for the $35,000 Model 3 sedan, due later this year. Best known for China’s largest social network, WeChat, Tencent could play an instrumental role in Tesla’s setting up a manufacturing operation in China. The car maker has held discussions with the government in the past about assembly there, and Mr. Musk has said local production could cut the price of Tesla vehicles in China by a third.
Time for TiVo
In the past few years, the number of TV series produced and led by African-Americans has surged. But why are so many of them running on the same night? On Wednesdays, the ABC comedy “Black-ish” hits the air in the same hour as Fox’s “Empire.” Wednesday also brings a face-off on cable: “Greenleaf,” a church and family saga on Oprah Winfrey’s OWN channel, appears opposite “Underground,” WGN America’s drama about slaves escaping to freedom, and “The Quad,” a new BET series set in a fictional black college. The bottleneck highlights how television has been changed by the boom in original programming. It also underscores how the old science of scheduling remains crucial to networks. We take a look at how the midweek pileup started.
Saddle Up
That Was Painless
Hobbyhorsing, a sport enjoyed mostly by young girls in Finland, requires gymnastic control and athleticism to complete jumps over obstacles—all while controlling a horse on a stick.

Russia Investigation Stalls in House

U.S. Home Prices Rise at Fastest Pace in 31 Months

In Raqqa, Signs of Faltering Islamic State Rule

U.S. Commander Says ‘Fair Chance’ U.S. Had a Role in Iraq Deaths

Auctions for Prince’s Music Rights Had Some Bidders Feeling Left Out

Toshiba’s Westinghouse Electric Files for Bankruptcy Protection

Swipe by Swipe, Chinese Smartphone Users Flock to Risky Investments

GM Under Pressure From Investor David Einhorn to Split Stock in Two Classes
The U.S. price for a year of a newly approved eczema drug, a figure that Regeneron and Sanofi said was reached after months of negotiations with pharmacy-benefit managers.
If immigrants are afraid of doing what they normally do, how am I going to survive?
Nadine Robinson on a more-than-50% drop in business at her store in Georgia, which cashes checks, wires money and sells office supplies. In the wake of Mr. Trump’s stepped-up enforcement of immigration rules, many of her customers—who are mostly Hispanic or African immigrants—no longer come, apparently for fear of being stopped by immigration authorities while out in public.
Returning to our story above, what do you think about Mr. Trump rolling back climate regulations? 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 colleges’ providing loan guarantees to students, Evan Steele of New Jersey said: “It’s about time colleges share in students’ success. With risk-sharing comes built-in incentives for colleges to spend significant resources to help get their students jobs upon graduation.” Ryan Boutwell of Texas wrote: “Colleges guaranteeing relief for students’ educational loans is a dangerous and slippery slope. For example, if I know that my school will cover student loans, I am incentivized to take that coveted trip to Europe in my junior summer, as opposed to searching for an internship.” Colin Turner of Florida commented: “Instead of giving students debt forgiveness, schools should lower tuition rates for less vital, lower-paying degrees and professions. College is the perfect time to reinforce to young adults that in the fast-approaching real world they will be expected to make calculated, risk/reward based decisions, and that they will be held accountable for the outcome of those decisions.” And Barry Zalma of California shared: “If the college is willing to pay part of a loan, they admit they charge too much.”

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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