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

The Wall Street Journal
Good morning,
Get on With it
Officials who gathered in Lima, Peru, for the IMF’s annual meeting over the weekend delivered a message to America’s monetary policy makers: Please stop dithering and raise interest rates. Many economists were confident that the Fed would move in September. But turbulence in China and weakness in other emerging markets stayed its hand, though officials were quick to say they still intended to raise rates this year. Fed Vice Chairman Stanley Fischer said that the U.S. central bank is taking a cautious approach in its deliberations, while the world’s policy makers at yesterday’s meeting struggled to find new engines of growth.
Dems Debate
Democratic presidential candidates are scheduled for their first debate tomorrow. Hillary Clinton will try to confront Sen. Bernie Sanders, while he looks to widen his appeal. For former Maryland Gov. Martin O’Malley, who has been campaigning hard but still lags far behind in polls, the showdown may be particularly crucial. Also on stage will be Lincoln Chafee, a former Rhode Island senator and governor, and former Virginia Sen. Jim Webb, who both have little to lose in attacking the front-runners. Meanwhile, two days ahead of the debate, Mr. Sanders showed some flexibility in his gun-control policies—a rare issue in which he is to the right of rival Mrs. Clinton.
Home-Court Advantage
After much criticism, the Securities and Exchange Commission has quietly pulled back on its use of in-house judges. An analysis by the Journal in May, which helped spur a wave of legal challenges, showed that the agency historically enjoyed a home-court advantage when it used its own tribunal. Other constitutional challenges to the SEC’s in-house courts—so far unsuccessful—include concerns about due process and whether judges could be biased in favor of the agency that employs them. SEC officials say that the willingness of their judges to sometimes rule against them refutes any allegation of bias.
Losing the Froth
Commercials for light beer used to be funny, with ads featuring talking chimps and men who wear dresses to score discounts at the bar on ladies’ night. But now they’re taking a more subtle approach. Sharp declines in sales since 2007 are driving a merger boom and prompting a shift in advertising style in the beer industry. MillerCoors plans to focus new marketing on women. Company research shows that they account for 25% of light-beer consumption, and one executive noted that they represent a “disproportionate share” of light beer’s decline because they are drinking more cider, wine and liquor.
TOP STORIES
U.S.

Charter School Battle Heats Up

In Bank Earnings, Clues on Housing Market’s Health
WORLD

Cyberwar Ignites a New Arms Race

Suicide Attack Plunges Turkey Deeper Into Turmoil, Hardens Political Divide
BUSINESS

UAW to Give Fiat Chrysler Workers More Time to Review Pact

With Market on Their Side, Electric Utilities Skip Fight Against Carbon Rule
MARKETS

Profit Margins Take Spotlight in U.S. Earnings Season

Beijing’s Market Rescue Leaves China Stocks Stuck in the Doldrums
TODAY'S VIDEO
Thousands Gather in Turkey to Mourn Bombing Victims
That Was Painless
Thousands of people gathered in Ankara, Istanbul and other Turkish cities to memorialize victims of Saturday’s terrorist attack.
NUMBER OF THE DAY
$15.5 million
Sales at the opening weekend of the fairy tale reboot “Pan.” While Warner Bros. has been losing at the box office, its 11-year-old videogame division is beating established publishers.
QUOTE OF THE DAY
Paul Ryan has been meeting with people nonstop because too many of us have his phone number, know where he works out in the morning, and he is obviously dealing with the fact that this isn’t a job he asked for or even wants but maybe a job that the conference needs him to take.
Rep. Darrell Issa (R., Calif.), one of the members urging Paul Ryan to run for Speaker of the House.
TODAY'S QUESTION
What are your thoughts on Mr. Issa’s recommendation? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
On Friday’s question about Kevin McCarthy’s decision to withdraw from the race to become the next speaker of the U.S. House of Representatives, Jesse Solis of Indiana wrote, “I think Congress needs to start encouraging two members specifically to run: Paul Ryan and Fred Upton. Ryan, who is most likely America’s choice, needs to keep being encouraged till he goes for it. As for Upton, he has been on the Hill for a very long time, is incredibly respected, and has an amazing track record.” W.S. Thomas of Alabama observed, “You cannot blame the ‘Freedom Caucus’ on Kevin McCarthy withdrawing his name for Speaker. McCarthy proved beyond a shadow of a doubt that he lacked the ability to lead with his dumber than dumb remarks about the purpose of the Benghazi Select Committee.” Jay Davidson of Colorado commented, “Republicans can’t win a general election with a far right movement in control of the party. Frustration and anger are emotions; we would do better were we directed by logic and reason.” Glen Fillion of Michigan wrote, “The Freedom caucus seems to be on a suicide mission to try to achieve their ends now. The establishment caucus want to lay low, bide their time, and project leadership to the American voters by not shutting down the government. Maintaining Congressional majorities and electing the next President must be the aim of both factions.”
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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