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

The Wall Street Journal
Good morning,
Mueller Moves
Robert Mueller, special counsel in a criminal investigation of Russia’s meddling in the 2016 presidential campaign, is set to act on charges as soon as Monday, when the first defendants could be taken into custody. Prosecutors led by Mr. Mueller obtained a grand jury indictment against at least one person on Friday. Mr. Mueller also has been investigating business dealings of several former aides of President Trump, as well as whether the president obstructed justice in firing James Comey as FBI director. Legal experts said they expect any indictment to be the first in a series of steps meant to win cooperation of potential witnesses in building cases against further suspects. Charges this week would collide with the unveiling of the Republican tax plan, which the GOP hopes to pass by Thanksgiving. A rousing legislative victory is possible, but the president and his party have little room for error.


Bouncing Back
Markets around the globe are surging to records, reflecting growing optimism about the world economy and fueling investor eagerness to step in and buy whenever prices dip. In the U.S., stock-price declines have grown shallower and shorter over the past two years. The S&P 500 has gone 246 trading days without falling more than 3% below its record high, its longest such streak ever. The buy-the-dip mentality has lately spread to Europe, Japan and even developing markets, with many investors seeming to see any stock that gets knocked down as a bargain. But some observers worry that this sentiment, like the persistent decline over the past year in stock-price volatility, signals market complacency that will end with a big selloff.
Party Favors
Foreign companies in China have a new partner: the Communist Party. Newly assertive party activists working at Western companies arrange lectures, proudly display hammer-and-sickle insignia at their desks and are praised by state media as exemplary workers. The compromises to do business in China are becoming increasingly uncomfortable for foreign companies as President Xi Jinping pushes the party deeper into the world’s second-largest economy, seeking to restore it as a force in people’s lives and recapture its revolutionary sense of mission. Some companies are concerned that party operatives may gain influence over management decisions or create an alternative power center, though several Western executives said in interviews that open dissent would be corporate suicide.
Suits You
Several high-end menswear retailers that typically sell suits costing $2,500 or more are dipping a toe into the $700-to-$1,400 range, wooing millennials as well as men of all ages with Champagne tastes but beer budgets. The latest wave of gentler-priced suits—a market dominated in recent years by upstarts like Suitsupply and established retailers such as J.Crew—comes from Barneys New York, Mitchells and Richards of Connecticut, and Mr Porter, which have long catered to men with offices rather than junior execs with cubicles, offering intimidatingly priced suits from brands such as Brioni and Kiton. Now these luxury retailers want in on the affordable-suit action and hope their versions will be a gateway to their pricier suits.
In the Red
That Was Painless
President Trump’s approval rating has fallen to its lowest level since he took office, with Americans critical of his performance as commander in chief and handling of some issues though largely pleased with his work on the economy, a Wall Street Journal-NBC News poll finds.

Stuck in Place, U.S. Homeowners Hunker Down as Housing Supply Stays Tight

Russia Probe Puts Focus on Washington Research Firm

Thousands Join Pro-Unity Rally Against Catalonia Independence

Tribal Tensions Flare After Kenya Vote

GE Board Was Kept in the Dark About CEO’s Extra Plane

Who Will Rein In Facebook? Challengers Are Lining Up

States Push Equifax to Explain Why It Took 6 Weeks to Disclose Hack

How a $2,400 Cap on 401(k) Deductions Would Affect Your Savings
$2 billion
The approximate value of the for-profit education company that would be created if Strayer Education completes a merger with Capella Education, a deal announced Monday.
I wrote a letter to Parliament saying that I will in no way accept for my mandate to be extended.…I will remain as Masoud Barzani in the service of my people.
Masoud Barzani on his resignation as president of Iraq’s semiautonomous Kurdish region on Sunday, a month after an independence referendum he orchestrated angered Baghdad, reversing years of Kurdish political and military gains and dashing their dreams of statehood.
Returning to our video above, what are your thoughts on President Trump’s latest poll numbers? 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 CVS’s proposal to buy Aetna, Elizabeth Nelson of Nebraska wrote: “Anything that helps keep Amazon from taking over every single corner of the marketplace is good. I’m afraid we soon won’t just have a city named Amazon, but a country named Amer…oops…Amazon.” And Stewart D. Cumming of California commented: “Should this proposed acquisition be allowed to move forward it will be a bitter pill that will be forced down the throats of those who are insured by Aetna…Health insurers have managed to position themselves today so as to be able to dictate to an insured who will provide their medical care, where that care will be provided, and what medications they can be given: all decisions no insurance company should ever be allowed to make. Insurers tout their efforts as controls on the cost of health care while at the same time reaping record profits for themselves and their privileged investors…It is crystal clear why CVS wants to buy Aetna: profits. It has nothing to do with health care.”

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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