The 10-Point: France Rallies, Fourth-Quarter Earnings, National College Championship and More

Arm in Arm

France mounted its largest-ever demonstration yesterday in a defiant, if fragile, display of unity against last week’s terror attacks. We report that families and friends of the 17 people killed in the violence led the march, followed by French President Fran?ois Hollande and a rare phalanx of of world leaders—who at times made for strange bedfellows. Some 40 dignitaries were in attendance, with two notable exceptions. Neither U.S. President Barack Obama nor Vice President Joe Biden were there, drawing criticism. Meanwhile, we examine the road to radicalization of gunman Said Kouachi. One key stop on his path was a dormitory in the Yemeni capital where he studied Arabic with the convicted Nigerian “underwear bomber.” This morning, French Prime Minister Manuel Valls said that the suspected perpetrators of the attacks last week likely had accomplices. Elsewhere, adherents of Islamic State have declared their intention to step up operations in Afghanistan, raising the prospect of battling jihadist groups and rising terrorism in the region. And we look at how the Paris attacks are putting a spotlight on divisions over Islam in Germany that have long remained in check. (Crowds in Place de la Republique, Paris, yesterday)

Earnings Test

As the fourth-quarter earnings season gets under way, investors are preparing for the softest U.S. profit growth in years, pinched by collapsing oil prices and a strong dollar. Many investors and stock-market strategists say that an improving U.S. economy and low interest rates will provide enough momentum to keep the six-year-old bull market running. But that optimism, we note, will be put to the test by the earnings season that kicks off today when Alcoa reports results after close of trading. Wall Street analysts are recommending investors buy stocks of large U.S. companies, but we find that some hedge funds are holding back. Meanwhile, oil futures fell on nagging oversupply concerns, with Brent crude trading below $50 a barrel this morning after key oil brokerages slashed their price forecasts further over the weekend. And in Europe, banks including Citigroup and Goldman Sachs, are dusting off contingency plans for the possibility that Greece could leave the euro monetary union after a key election this month.

Behind the Wheel

Today marks the start of the North American International Auto Show, which traditionally showcases dozens of new models, ranging from moonshot concept cars to mild updates of best sellers. Our story looks at how Nissan aims to get its Titan, a pickup truck introduced about a dozen years ago, on to more buyers’ lists with a new model. With its new diesel engine, the truck is expected to lure people wanting more power without having to pay up for a heavy-duty pickup. Meanwhile, we find that Tesla Motors is on a collision course with auto-industry giants like never before, but Chief Executive Elon Musk has no plans to stop cursing or obsessing about the tiniest design details. “When I see a car or a rocket or spacecraft, I only see what’s wrong. I never see what’s right. It’s not a recipe for happiness,” he said in an interview. In a speech at an auto-show event tomorrow, Mr. Musk is expected to criticize larger auto makers for not responding to Tesla more aggressively.

The Duck That Didn’t Fly

When the University of Oregon plays for the national college championship today, its cuddly mascot, “Puddles,” will be there. But another more intimidating version of the duck won’t be around. Our story looks at the long-lost tale of Mandrake, the muscular embodiment of a meaner Oregon football team, that lost favor years ago. As for tonight’s history-making game against Ohio State, our sports columnist Jason Gay talks to Journal writers Jonathan Clegg (who was at the Rose Bowl with Oregon) and Ben Cohen (who covered Ohio State’s Sugar Bowl victory) about what to expect. We also examine how the two teams rose to the title game—noting that the path can be traced back to a meeting five years ago—as well as how Ohio State coach Urban Meyer made his comeback. And we offer an analysis of the classic game that unfolded yesterday as the Green Bay Packers beat the Dallas Cowboys 26-21 to reach the NFC Championship next week against Seattle. The winner plays Indianapolis, who upset Denver yesterday, or New England in the Super Bowl on Feb. 1.

TOP STORIES

U.S.

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WORLD

European Central Bank’s Bond-Buying Plans Face Doubt

AirAsia Flight 8501: Jet’s Black Boxes Are Found

BUSINESS

GM To Use GM Financial Lending Arm For Subsidized Leases

Formica Looks to China to Restore Its Luster

MARKETS

Nasdaq Looks to Operate Dark Pools for Banks

Commodities Fall as Stockpiles Mount Up

NUMBER OF THE DAY

$32.97 billion

The money raised by venture-capital firms in 2014, a 62% increase over 2013 and the highest total since 2007, as investors seek to take advantage of a hot market for startup funding and initial public offerings.

QUOTE OF THE DAY

‘It’s done, it’s over. And he’s retired. He’s lost his job…How much does government want?’

—Sen. Dianne Feinstein (D., Calif.), speaking on CNN’s “State of the Union”, raised doubts over whether the Justice Department should file charges against former Gen. David Petraeus for mishandling classified information.

TODAY’S QUESTION

Going back to our earlier story, do you think Mr. Obama and Mr. Biden should have attended the rally in Paris? Send your comments to [email protected].

—Compiled by Khadeeja Safdar

READER RESPONSE

On Friday’s question about France’s secular model, James Farrell of Pennsylvania described it as “a myth. With apologies to Aristotle, Faith & Culture too abhors a vacuum. This may be an oversimplification, but you cannot trade something for nothing—to an unemployed and marginalized young man, offering a hollow notion of being ‘French’ has proven a tough sale against the poisonous red meat he’s being fed at the neighborhood mosque. America is far from perfect, but I think we’ve done a pretty good job of weaving a cultural and religious tapestry…so far. Secular or not, France is historically recognized as the ‘Eldest Daughter of the Church’—confronted with the violent uncertainty of Islamic terrorism, she sought comfort in the tolling bells of her most famous Catholic cathedral, an irony not lost on me.”

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.

Photo: Associated Press