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

The Wall Street Journal
Good morning,
In the Doldrums
Quarterly profits and revenue at big American companies are poised to decline for the first time since the recession. The drag on earnings and sluggish growth projections for 2016 come as the Federal Reserve considers raising interest rates for the first time in nine years, and could strengthen the case of those in favor of postponing any rate increase until next year. The global economy’s troubles are casting a long shadow over this week’s Fed policy meeting, as investors see a growing likelihood that there will be no rate increase this year. Meanwhile, another third of the S&P 500 are expected to report their results this week, including Apple, United Parcel Service and Exxon Mobil Corp.
Opening Old Wounds
Facing worsened security, Afghanistan is turning to an old ally: Russia. President Ashraf Ghani has asked Moscow for artillery, small arms and Mi-35 helicopter gunships for his country’s struggling military, officials say, after the U.S. and its allies pulled most of their troops and reduced financial aid. The outreach has created another opening for a more assertive Kremlin, stepping up the potential for confrontation with the U.S.—though lately the West has been including the Russians in its diplomacy. The move also reflects Russian concerns that the deterioration of security in Afghanistan could destabilize Central Asia and bring Islamic extremism closer to its own border.
Outside the Big Box
Wal-Mart seems to have decided that less is more. The retail giant is looking to boost sales with fewer products. The moves are part of a high-stakes pivot to tame the company’s sprawling empire, organize unruly systems for managing inventory and keep stores neat and better stocked. Some of the changes have put the company at loggerheads with vendors who worry they will result in tens of millions of dollars in lost sales. But fixing U.S. stores is becoming ever more crucial. Earlier this month, Wal-Mart surprised investors by predicting that profits would drop as much as 12% next year as it spends heavily to raise wages, boost online sales and overhaul inventory systems.
Death to Capitalism?
Karl Marx’s grave is a popular feature at London’s Highgate Cemetery, but visitors must spend about $6 to pay their respects. The charity that looks after the graveyard says its cover fee subsidizes the upkeep of a cemetery where other people rest. Now, the charge is infuriating a new generation of Marxists. Interest in his legacy is gaining momentum in Britain following the election of Jeremy Corbyn, a self-described Marx admirer, as leader of the opposition Labour Party. “They do complain, and tell me Marx would be turning in his grave,” said a representative from the charity. “But I tell them, it’s redistribution in action, because all the money we generate goes back into the cemetery.”
Earthquake in South Asia
Breaking on WSJ.com: A 7.5-magnitude earthquake strikes the Hindu Kush mountains in Afghanistan near the country’s border with Pakistan.
TOP STORIES
U.S.

Lawyer Questions Mental Health of Suspect in Deadly Oklahoma Crash

Some Candidates, Super PACs Draw Closer
WORLD

Argentina Heads for Presidential Runoff

Poland’s Ruling Party Likely Defeated in Parliamentary Election
BUSINESS

Volkswagen Suspends More Employees

Valeant and Pharmacy More Intertwined Than Thought
MARKETS

While Arizona Cardinals Soar, Legal Battle Puts Stadium Investors in Red Zone

Citi Found Itself Briefly Exposed to $400 Million Hit
NUMBER OF THE DAY
$5.4 billion
The price at which Sam Zell has agreed to sell more than 23,000 apartments controlled by his real-estate company, Equity Residential, to Starwood Capital Group. The transaction could be announced as early as today.
QUOTE OF THE DAY
Managing the migration flow can only happen if we slow down the uncontrolled flow of people. The policy of waving through people to the next border must stop. People need to be registered. No registration, no rights.
European Commission President Jean-Claude Juncker on slowing the influx of migrants into Europe and supplying humanitarian aid to the thousands of people moving every day across the Continent.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the health of the economy? 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 the Benghazi hearing, Shari Reed of New Mexico commented, “Republicans gave Hillary Clinton a perfect platform to demonstrate how presidential she could be. She put to rest all concerns about a woman being tough enough for the Oval Office. The question now is do the Republicans have anyone with the grit to run against her?” Mary Lakeland of Florida wrote, “As a person that was not planning on voting for Hillary, although I did not dislike her, I can tell you that watching yesterday has changed my mind. I do not think we have another candidate that could show the intellect, stamina, and poise that Secretary Clinton showed yesterday. There is not enough money in the world to buy what the hearings did for her campaign.” Tom Weil of Ohio had this to say, “I am not a big Hillary fan, but to belabor her with lectures and questions for nine hours is disgusting. So many congressional hearings seem to be primarily an opportunity for the legislators to berate those with whom they disagree. They ought to show more respect.” But Thatcher A. Stone weighed in from Virginia: “Mrs. Clinton lied to the American people and the families of the deceased Benghazi victims for political advantage, failed to protect our people on the ground in Benghazi, sent Susan Rice to the media to lie about the attack and does not therefore have the kind of skills, integrity and truthfulness to assume the Oval Office.”
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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Copyright 2015 Dow Jones & Company, Inc. All Rights Reserved.   

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