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

The Wall Street Journal
Good morning, from Laguna Beach, Calif., and day two of our WSJDLive conference.
The Tide Turns
Canada’s Conservative Party has been ousted after almost a decade in power, as voter discontent and a souring economy helped sweep Liberal Party leader Justin Trudeau into the top office. After turning his party into a national political force, Prime Minister Stephen Harper failed to make a lasting impact with middle-of-the-road voters in the country’s central and eastern regions. Amid the faltering economy, his opponent’s newcomer status may have played into a deep-seated desire for change. Here are five things we can expect from the government of Canada’s newly elected premier—the 43-year-old son of the country’s long-serving Prime Minister Pierre Trudeau.
Take Up Arms
The Israeli government is urging anxious citizens to restrain themselves in the face of escalating violence following the death of an Eritrean migrant who was attacked by a crowd that mistook him for an Arab assailant. The bloodshed has left eight Israelis and at least 35 Palestinians dead—including at least 18 suspected assailants killed by Israeli forces—and civilians across Israel are dusting off old guns and buying new ones to defend themselves. Meanwhile, U.S. Secretary of State John Kerry said yesterday that he doesn’t have any “specific expectations” for his trip to Europe and the Middle East this week to discuss the rise in violence in Israel, but is seeking a way to urge calm and “move things forward.”
Crash and Burn
Sky-high valuations are starting to backfire on some Silicon Valley companies that are trying to raise more money or go public. Many U.S.-based companies that went public this year have seen their stock prices suffer, posting a median return of zero compared with their IPO price. The lackluster reception for tech startups in the stock market could ricochet through companies that are still private. And speaking of lackluster reception, the trade that was supposed to carry the year for hedge funds is ruining it instead. Many hedge-fund and private-equity managers are now caught in crude oil’s fall. “People got crushed. They really got destroyed,” said Blackstone Group Chief Executive Stephen Schwarzman.
Lip Smackers
Do you get annoyed by loud chewing? What if your husband is a loud chewer? Or the woman at the next desk at work? The solution isn’t trying to fix the chewer; it’s you, say therapists. Our Bonds columnist Elizabeth Bernstein examines misophonia—a condition in which people suffer from an aversion to specific noises. They are most often “mouth sounds” such as chewing or lip-smacking, but also noises such as foot-tapping, pen-clicking or sniffing. And in other health news, we look at how two research subjects pass the time—and work to stay awake—during a study on sleep deprivation.
Tim Cook at WSJDLive on the Future of Cars
That Was Painless
Apple CEO Tim Cook on the future of the car industry, in conversation with me at the WSJDLive conference in Laguna Beach, Calif., yesterday.

Violating Baltimore’s Deal Restrictions Can Be Costly

Radiation Sensors in Major U.S. Cities Turned Off Because They Don’t Work

Fears of New Migrant Bottleneck Grow at Slovenia Border

First Round of Egyptian Parliamentary Elections Ends

United Airlines Names Brett J. Hart Acting CEO

SAP Profit Lifted by Cloud Subscriptions

Money Funds Clamor for Short-Term Treasurys

Morgan Stanley Profit Declines as Trading Revenue Weakens
The share of GOP primary voters interviewed for a Journal/NBC News poll who said that Donald Trump was their first choice in the presidential competition, up from 21% in late September.
I believe in the program so much I decided to invest in the company and partner in its evolution.
Oprah Winfrey announced yesterday that she is buying a 10% stake in Weight Watchers and joining the board of the struggling weight-loss company.
Going back to our story above, what are your thoughts on solutions for loud chewers? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Khadeeja Safdar
On yesterday’s question about market concentration, Alexey Zabotkin weighed in from Russia, “The high—and increasing—market concentration, not only in the U.S. but globally, is the manifestation of capitalism’s reflex to sustain earnings growth against slowing momentum in the world economy proper and of the clout the owners of capital exert over the regulators and the state machinery at large. It must be one of the tangible factors behind multi-decade record-high profit margins sustained in the U.S. economy over the last few years. The eventual undoing of this suboptimal equilibrium, most probably as a part of a broader political change, will contribute to—or may even trigger—the next bear market in U.S. stocks.” From South Carolina, Alan Dechovitz commented, “Why are industries and markets consolidating in the U.S.? Trade, regulatory, tax, and wage minimums have consequences. In the Soviet Union there were generally only one or two participants in any major sector enabling central control by bureaucrats without reference to market forces. The Democrat party is getting exactly what they hope for.” And Gordon E. Finley of Florida had this to say: “Market concentration is wonderful for maintaining financial concentration at the top but devastating for consumers who must pay the consequent higher prices most notably in health care/drugs where one’s choices are limited to pay or die!”
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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