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YELLOW ****** WEDNESDAY, JANUARY 14, 2015 ~ VOL. CCLXV NO. 11 WSJ.com HHHH $3.00 DJIA 17613.68 g 27.16 0.2% NASDAQ 4661.50 g 0.1% NIKKEI 17087.71 g 0.6% STOXX 600 344.77 À 1.4% 10-YR. TREAS. À 6/32 , yield 1.890% OIL $45.89 g $0.18 GOLD $1,234.30 À $1.60 EURO $1.1775 YEN 117.93 Getty Images TODAY IN PERSONAL JOURNAL Look Smart, Feel Smart PLUS PLUS Chocolate With True Grit CONTENTS Arts in Review.......... D5 Corporate News... B2-4 Global Finance............ C3 Heard on the Street C12 Home & Digital ..... D1-3 In the Markets........... C4 Opinion.................. A13-15 Property Report.. C6-8 Sports.............................. D6 Technology................... B5 U.S. News................. A2-6 Weather Watch ........ B7 World News.......... A8-11 s Copyright 2015 Dow Jones & Company. All Rights Reserved > What’s News i i i World-Wide n White House adviser Po- desta will join Clinton’s emerg- ing presidential bid in February, in one of the strongest signs yet she plans to launch a run. A1 n The U.S. budget gap in 2014 was the smallest since 2007, marking an economic shift as Obama and Congress prepare to face off over legislation. A2 n Obama said he would work with Republicans on areas in- cluding trade and national se- curity in his first meeting with leaders of the new Congress. A4 n The White House proposed a new cyberattack strategy, in- cluding information-sharing directives with companies and stiffer criminal penalties. A4 n France plans to beef up do- mestic surveillance to track terror threats in the wake of last week’s deadly attacks. A8 n An Illinois teen who tried to fly to Turkey pleaded not guilty of attempting to provide mate- rial support to Islamic State. A6 n Indonesian investigators downloaded data from the first of two black boxes recovered from AirAsia Flight 8501. A10 n Boko Haram and troops in Cameroon clashed in a battle that sent thousands fleeing. A9 n Uganda’s military said that the Lord’s Resistance Army’s second-in-command will stand trial at The Hague. A9 n An artillery strike hit a bus in eastern Ukraine, killing 11 people in the largest civil- ian death toll in months. A9 n An Egyptian appeals court ordered the retrial of Muba- rak in a corruption case. A11 i i i M etLife is suing the gov- ernment over its decision to subject the insurer to stricter oversight, setting up a battle over U.S. financial regulation. A1 n U.S. stocks were buffeted by volatility in a session that saw a 424-point intraday swing in the Dow. The blue chips ended 27.16 points lower at 17613.68. C1 n Oil prices fell again after the U.A.E. oil minister said OPEC would keep output steady. Cop- per sank to a five-year low and the ruble weakened. C1, B1 n The World Bank cut its global growth forecast for 2015 to 3%, citing eurozone and emerging-market woes. A11 n Caesars Entertainment’s largest unit is preparing to file for bankruptcy protec- tion as soon as Thursday. B1 n U.S. financial regulators are taking a closer look at electronic bond quotes and brokers’ markups on trades. C1 n Samsung will release a smartphone in India that runs the company’s homegrown Tizen operating system. B1 n Auto makers are on a colli- sion course with U.S. regulators over the timetable for strict fuel-economy standards. B1 n Tesla’s CEO said the firm won’t be profitable on a basis including executive compensa- tion and charges until 2020. B4 n Ocwen Financial’s shares plunged 36% as the mortgage servicer locked horns with regulators in California. C3 n Amazon signed Woody Allen to create a TV series for its streaming service. B1 Business & Finance John Podesta, a top White House adviser, will take on a se- nior role in Hillary Clinton’s emerging presidential bid after he leaves the administration in February, three people familiar with the matter said. The move is one of the most definitive signs yet that Mrs. Clinton is building the apparatus to launch a 2016 run. Mrs. Clinton isn’t likely to an- nounce her decision on whether to enter the race until the spring. But her advisers are making preparations for such a campaign, as evidenced by Mr. Podesta signing on. Mr. Podesta, who served as chief of staff in former President Bill Clinton’s second term and has held a top role in the fam- ily’s charitable foundation, has sat in on informal meetings of Clinton aides in recent months devoted to a possible presiden- tial bid, according to people fa- miliar with the matter. The precise role Mr. Podesta would play in a Clinton cam- paign is unclear. People familiar with discussions said he likely would be campaign chairman, should she decide to run. Campaign operations tend to have a youthful cast, but Mr. Po- desta, who turns 66 this month, would come to the job as a se- nior strategist and trouble- shooter for Mrs. Clinton. In the White House, Mr. Po- desta has been among President Barack Obama’s small circle of top advisers, keeping a hand in Please turn to page A4 BY PETER NICHOLAS AND COLLEEN MCCAIN NELSON Podesta To Join Clinton’s Campaign PARIS—The man who last week murdered four Jewish hos- tages in a kosher grocery and shot down a police officer nursed deep resentment against French law enforcement, accord- ing to his friends and court doc- uments. In 2000, when Amedy Couli- baly was 18 years old, police shot dead a close friend while he was attempting to flee the scene of a robbery, said prosecutors and the deceased man’s lawyer. Courts rejected requests by the victim’s family to review the kill- ing, ruling that the officer acted in legitimate defense. A portrait is emerging of Mr. Coulibaly and his path toward a friendship with a convicted ter- rorist, Islamic radicalization and last week’s bloody shooting spree. Mr. Coulibaly, whom police killed when they stormed the grocery, said last week’s attacks were coordinated with the Kouachi brothers’ alleged assault two days earlier on the French magazine Charlie Hebdo, and, in a video released online after his death, said his assault was justi- fied by Western attacks on Is- lamic State militants. Interviews with friends and lawyers—as well as police inter- rogation transcripts, phone taps and court documents—show Mr. Coulibaly began having run-ins with the law at an early age. The only boy in a family of nine sisters, he was cited for robbery at age 15. It was the start of a criminal record that eventually included shoplifting, drug-dealing, armed robbery and the sale of stolen goods. In 1999, Mr. Coulibaly was convicted of assaulting a police officer. The following year, his friend, 19-year-old Ali Rezgui, was killed. The decision not to re- view the killing set off days of riots in his hometown of Grigny, a dilapidated and crime-ridden area at Paris’s southern rim. “He was the only guy he liked,” Hayat Boumeddiene, Mr. Coulibaly’s partner and a sus- pected accomplice in the Paris attack, told police in 2010. “And since then, he doesn’t have a best friend.” In 2004, a French court con- victed Mr. Coulibaly of armed bank robbery, sentencing him to six years in prison. Mr. Coulibaly was sent to Fleury-Mérogis, a prison south of Paris. Inmates of the facility, which is shaped like a web of concrete, routinely circum- vented its barriers by tying bed sheets into ropes to exchange Please turn to page A8 By Stacy Meichtry, Noémie Bisserbe and Benoît Faucon French Man’s Path to Terror Life of Crime and Resentment Preceded Gunman’s Massacre in Kosher Grocery PITTSBURGH—Thorley Indus- tries LLC began planning several years ago to launch a baby car seat with a set of electronic con- trols and a potential novelty: The Pittsburgh-based firm considered making the seats in the U.S. Officials at Thorley, which manufactures most of its infant- care line in China, sought to avoid for at least one product the trans- Pacific flights and language barri- ers that come with doing business overseas. They looked to lower shipping costs and eliminate the monthslong wait for supplies to arrive and clear customs. There also was the chance customers might prefer American-made. In the beginning, at least, “I think we were all definitely rooting for the U.S.,” said Rich Juchnie- wicz, a product developer at Thorley, which markets its baby line under the 4moms brand. For years, the U.S. has ceded more and more of its manufactur- ing to lower-cost corners of the global economy. No one expects the U.S. to again make most of the electronic gadgets, tools, toys, furniture, lighting and other household products that tally more than $500 billion a year in imports. But some companies contend the U.S. has renewed its attrac- tion. Wages are stable, for exam- ple, while China’s have soared. The U.S. energy boom has re- duced natural gas prices and kept a lid on electricity costs. Plus, more companies want to protect designs from overseas copycats, keep closer tabs on quality con- trol and avoid potential disrup- tion in supply chains that span oceans. As China’s cost advantages shrink, the U.S. has the potential, with investments in automation, to retrieve Please turn to page A12 BY JAMES R. HAGERTY AND MARK MAGNIER MANUFACTURING SHIFT Companies Tiptoe Back Toward ‘Made in the USA’ MetLife Inc. is challenging the federal government’s decision to subject the insurer to stricter oversight, setting up the biggest test yet for regulators responsi- ble for protecting the U.S. finan- cial system from another crisis. The move comes as Republi- cans, now in control of both houses of Congress, plan changes that would roll back some ele- ments of the 2010 Dodd-Frank fi- nancial-overhaul law, the signa- ture piece of legislation introduced after the housing bust. The lawsuit pits the nation’s largest life insurer by assets against the Financial Stability Oversight Council, a group of top financial regulators created by Dodd-Frank and given authority to identify companies that could threaten the U.S. economy in a crisis. MetLife, the fourth nonbank to be designated as “systemically important” by the council, is the first company to legally challenge that conclusion. The label means that MetLife could pose signifi- cant risks to the U.S. financial sys- tem should it collapse and war- rants tougher oversight, which could crimp its ability to raise div- idends and buy back shares. MetLife said it doesn’t pose such risks, and the government used flawed metrics in arriving at its decision. Lawmakers in recent months have mounted successful attempts to roll back or change portions of the Dodd-Frank law, including a successful effort to eliminate a re- quirement big banks put certain trading activities into separate af- filiates. Additional efforts by Re- publicans are expected in coming Please turn to the next page BY VICTORIA MCGRANE AND LESLIE SCISM MetLife Suit Sets Up Battle Over Regulation From Here to There Share of global manufacturing exports The Wall Street Journal Source: World Trade Organization 20 0 5 10 15 % China EU U.S. Japan 2000 2013 Dan Kitwood/Getty Images SHAWANO, Wis.—Atop a wooded hill here in the heart of America’s Dairyland, an industry legend was recently laid to rest. It wasn’t some milk magnate or a famed innovator, but an or- nery, 2,700-pound bull named Toystory—a titan of artificial in- semination who sired an esti- mated 500,000 offspring in more than 50 countries. “He was a dream bull,” said Jan Hessel Bierma, editor in chief of dairy-breeding magazine Holstein International. In the increasingly high-tech world of cow reproduction, a top bull’s career tends to last just a few years as farmers chase bet- ter genetics to boost milk output and animal durability, playing a numbers game not unlike a Ma- jor League Baseball manager. Rare is the bull with the genes and testicular fortitude to sell a million units of semen, known among breeders as the millionaires club. Over nearly a decade, Toystory shattered the record for sales of the slender straws that hold about 1/20th of a teaspoon and are shipped using liquid nitrogen to farmers around the world. A unit fetches anywhere from a few dollars to several hundred. After joining the millionaires club, Toystory surpassed Sunny Boy, a Dutch bull who sold more than 1.7 million units in the Please turn to page A6 BY MARK PETERS AND ILAN BRAT A Breeder Apart: The Bull Who Sired 500,000 Is Gone i i i Fans Commemorate ‘Toystory,’ a Dairy Legend With a Ravenous Libido Toystory The body of Ahmed Merabet, a policeman killed during a terrorist attack last week in Paris, is carried during a funeral Tuesday at a Muslim cemetery. Stocks Take a Roller-Coaster Ride 1 2 3 4 5 Oct. 15, 2014 Jan. 13, 2015 Dec. 18, 2014 Dec. 16, 2014 Feb. 3, 2014 458.18 424.78 410.55 359.85 352.37 POINTS DATE Dow Jones Industrial Average at one-minute intervals Tuesday’s swing Largest intraday swings in the past 12 months The Wall Street Journal Source: WSJ Market Data Group 18000 17500 17600 17700 17800 17900 Jan. 12 close Open 17613.68 10 a.m. 11 Noon 1 p.m. 2 3 4 IN THE SWING: The Dow industrials finished 27 points lower Tuesday after a volatile session that featured a 424-point intraday swing, the largest since October. Traders struggled to pinpoint a catalyst for the drop. C1 Obama seeks bipartisan common ground............................ A4 C M Y K Composite Composite MAGENTA CYAN BLACK P2JW014000-6-A00100-1--------XA CL,CN,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SC,SL,SW,TU,WB,WE BG,BM,BP,CC,CH,CK,CP,CT,DN,DR,FW,HL,HW,KS,LA,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO P2JW014000-6-A00100-1--------XA
Transcript
Page 1: 2015 01 14 cmyk NA 04 - The Wall Street Journalonline.wsj.com/public/resources/documents/PageOne011415.pdf · Mr.Podesta, who served as chief of staff in former President Bill Clinton’ssecond

YELLOW

* * * * * * WEDNESDAY, JANUARY 14, 2015 ~ VOL. CCLXV NO. 11 WSJ.com HHHH $3 .00

DJIA 17613.68 g 27.16 0.2% NASDAQ 4661.50 g 0.1% NIKKEI 17087.71 g 0.6% STOXX600 344.77 À 1.4% 10-YR. TREAS. À 6/32 , yield 1.890% OIL $45.89 g $0.18 GOLD $1,234.30 À $1.60 EURO $1.1775 YEN 117.93

Getty

Images

TODAY IN PERSONAL JOURNAL

Look Smart, Feel SmartPLUSPLUS Chocolate With True Grit

CONTENTSArts in Review.......... D5Corporate News... B2-4Global Finance............ C3Heard on the Street C12Home & Digital ..... D1-3In the Markets........... C4

Opinion.................. A13-15Property Report .. C6-8Sports.............................. D6Technology................... B5U.S. News................. A2-6Weather Watch........ B7World News.......... A8-11

s Copyright 2015 Dow Jones & Company.All Rights Reserved

>

What’sNews

i i i

World-WidenWhite House adviser Po-desta will join Clinton’s emerg-ing presidential bid in February,in one of the strongest signs yetshe plans to launch a run.A1nThe U.S. budget gap in 2014was the smallest since 2007,marking an economic shift asObama and Congress prepareto face off over legislation. A2nObama said hewouldworkwith Republicans on areas in-cluding trade and national se-curity in his firstmeetingwithleaders of the newCongress.A4nTheWhite House proposeda new cyberattack strategy, in-cluding information-sharingdirectives with companies andstiffer criminal penalties. A4n France plans to beef up do-mestic surveillance to trackterror threats in the wake oflast week’s deadly attacks. A8nAn Illinois teenwho tried tofly to Turkey pleaded not guiltyof attempting to providemate-rial support to Islamic State.A6n Indonesian investigatorsdownloaded data from the firstof two black boxes recoveredfrom AirAsia Flight 8501. A10nBoko Haram and troops inCameroon clashed in a battlethat sent thousands fleeing. A9nUganda’s military said thatthe Lord’s Resistance Army’ssecond-in-command willstand trial at The Hague. A9n An artillery strike hit abus in eastern Ukraine, killing11 people in the largest civil-ian death toll in months. A9n An Egyptian appeals courtordered the retrial of Muba-rak in a corruption case. A11

i i i

MetLife is suing the gov-ernment over its decision

to subject the insurer to stricteroversight, setting up a battleover U.S. financial regulation.A1nU.S. stockswere buffeted byvolatility in a session that saw a424-point intraday swing in theDow. The blue chips ended 27.16points lower at 17613.68. C1nOil prices fell again after theU.A.E. oil minister said OPECwould keep output steady. Cop-per sank to a five-year low andthe ruble weakened. C1, B1nTheWorld Bank cut itsglobal growth forecast for 2015to 3%, citing eurozone andemerging-market woes. A11n Caesars Entertainment’slargest unit is preparing tofile for bankruptcy protec-tion as soon as Thursday. B1n U.S. financial regulatorsare taking a closer look atelectronic bond quotes andbrokers’ markups on trades. C1n Samsung will release asmartphone in India that runsthe company’s homegrownTizen operating system. B1nAuto makers are on a colli-sion course with U.S. regulatorsover the timetable for strictfuel-economy standards. B1n Tesla’s CEO said the firmwon’t be profitable on a basisincluding executive compensa-tion and charges until 2020. B4n Ocwen Financial’s sharesplunged 36% as the mortgageservicer locked horns withregulators in California. C3n Amazon signed WoodyAllen to create a TV seriesfor its streaming service. B1

Business&Finance

John Podesta, a top WhiteHouse adviser, will take on a se-nior role in Hillary Clinton’semerging presidential bid afterhe leaves the administration inFebruary, three people familiarwith the matter said. The moveis one of the most definitivesigns yet that Mrs. Clinton isbuilding the apparatus to launcha 2016 run.

Mrs. Clinton isn’t likely to an-nounce her decision on whetherto enter the race until thespring. But her advisers aremaking preparations for such acampaign, as evidenced by Mr.Podesta signing on.

Mr. Podesta, who served aschief of staff in former PresidentBill Clinton’s second term andhas held a top role in the fam-ily’s charitable foundation, hassat in on informal meetings ofClinton aides in recent monthsdevoted to a possible presiden-tial bid, according to people fa-miliar with the matter.

The precise role Mr. Podestawould play in a Clinton cam-paign is unclear. People familiarwith discussions said he likelywould be campaign chairman,should she decide to run.

Campaign operations tend tohave a youthful cast, but Mr. Po-desta, who turns 66 this month,would come to the job as a se-nior strategist and trouble-shooter for Mrs. Clinton.

In the White House, Mr. Po-desta has been among PresidentBarack Obama’s small circle oftop advisers, keeping a hand in

PleaseturntopageA4

BY PETER NICHOLASAND COLLEEN MCCAIN NELSON

PodestaTo JoinClinton’sCampaign

PARIS—The man who lastweek murdered four Jewish hos-tages in a kosher grocery andshot down a police officernursed deep resentment againstFrench law enforcement, accord-ing to his friends and court doc-uments.

In 2000, when Amedy Couli-baly was 18 years old, policeshot dead a close friend while hewas attempting to flee the sceneof a robbery, said prosecutorsand the deceased man’s lawyer.Courts rejected requests by the

victim’s family to review the kill-ing, ruling that the officer actedin legitimate defense.

A portrait is emerging of Mr.Coulibaly and his path toward afriendship with a convicted ter-rorist, Islamic radicalization andlast week’s bloody shootingspree.

Mr. Coulibaly, whom policekilled when they stormed thegrocery, said last week’s attackswere coordinated with theKouachi brothers’ alleged assaulttwo days earlier on the Frenchmagazine Charlie Hebdo, and, ina video released online after hisdeath, said his assault was justi-fied by Western attacks on Is-lamic State militants.

Interviews with friends andlawyers—as well as police inter-rogation transcripts, phone tapsand court documents—show Mr.Coulibaly began having run-inswith the law at an early age.

The only boy in a family ofnine sisters, he was cited forrobbery at age 15. It was thestart of a criminal record thateventually included shoplifting,drug-dealing, armed robbery andthe sale of stolen goods. In 1999,Mr. Coulibaly was convicted ofassaulting a police officer.

The following year, his friend,19-year-old Ali Rezgui, waskilled. The decision not to re-view the killing set off days ofriots in his hometown of Grigny,

a dilapidated and crime-riddenarea at Paris’s southern rim.

“He was the only guy heliked,” Hayat Boumeddiene, Mr.Coulibaly’s partner and a sus-pected accomplice in the Parisattack, told police in 2010. “Andsince then, he doesn’t have abest friend.”

In 2004, a French court con-victed Mr. Coulibaly of armedbank robbery, sentencing him tosix years in prison. Mr. Coulibalywas sent to Fleury-Mérogis, aprison south of Paris. Inmates ofthe facility, which is shaped like aweb of concrete, routinely circum-vented its barriers by tying bedsheets into ropes to exchange

PleaseturntopageA8

By Stacy Meichtry,Noémie Bisserbe

and Benoît Faucon

French Man’s Path to TerrorLife of Crime and Resentment Preceded Gunman’s Massacre in Kosher Grocery

PITTSBURGH—Thorley Indus-tries LLC began planning severalyears ago to launch a baby carseat with a set of electronic con-trols and a potential novelty: ThePittsburgh-based firm consideredmaking the seats in the U.S.

Officials at Thorley, whichmanufactures most of its infant-care line in China, sought to avoidfor at least one product the trans-Pacific flights and language barri-ers that come with doing businessoverseas. They looked to lowershipping costs and eliminate themonthslong wait for supplies toarrive and clear customs. Therealso was the chance customersmight prefer American-made.

In the beginning, at least, “I think we were alldefinitely rooting for the U.S.,” said Rich Juchnie-wicz, a product developer at Thorley, which marketsits baby line under the 4moms brand.

For years, the U.S. has cededmore and more of its manufactur-ing to lower-cost corners of theglobal economy. No one expectsthe U.S. to again make most ofthe electronic gadgets, tools, toys,furniture, lighting and otherhousehold products that tallymore than $500 billion a year inimports.

But some companies contendthe U.S. has renewed its attrac-tion. Wages are stable, for exam-ple, while China’s have soared.The U.S. energy boom has re-duced natural gas prices and kepta lid on electricity costs. Plus,more companies want to protectdesigns from overseas copycats,keep closer tabs on quality con-trol and avoid potential disrup-tion in supply chains that span

oceans.As China’s cost advantages shrink, the U.S. has the

potential, with investments in automation, to retrievePleaseturntopageA12

BY JAMES R. HAGERTYAND MARK MAGNIER

MANUFACTURING SHIFT

Companies Tiptoe BackToward ‘Made in the USA’

MetLife Inc. is challenging thefederal government’s decision tosubject the insurer to stricteroversight, setting up the biggesttest yet for regulators responsi-ble for protecting the U.S. finan-cial system from another crisis.

The move comes as Republi-cans, now in control of bothhouses of Congress, plan changesthat would roll back some ele-ments of the 2010 Dodd-Frank fi-nancial-overhaul law, the signa-ture piece of legislationintroduced after the housingbust.

The lawsuit pits the nation’slargest life insurer by assetsagainst the Financial StabilityOversight Council, a group of topfinancial regulators created byDodd-Frank and given authority toidentify companies that could

threaten the U.S. economy in acrisis. MetLife, the fourth nonbankto be designated as “systemicallyimportant” by the council, is thefirst company to legally challengethat conclusion. The label meansthat MetLife could pose signifi-cant risks to the U.S. financial sys-tem should it collapse and war-rants tougher oversight, whichcould crimp its ability to raise div-idends and buy back shares.

MetLife said it doesn’t posesuch risks, and the governmentused flawed metrics in arrivingat its decision.

Lawmakers in recent monthshave mounted successful attemptsto roll back or change portions ofthe Dodd-Frank law, including asuccessful effort to eliminate a re-quirement big banks put certaintrading activities into separate af-filiates. Additional efforts by Re-publicans are expected in coming

Pleaseturntothenextpage

BY VICTORIA MCGRANEAND LESLIE SCISM

MetLife Suit Sets UpBattle Over Regulation

From Here to ThereShare of global manufacturingexports

The Wall Street Journal

Source: World Trade Organization

20

0

5

10

15

%

China EU U.S. Japan

2000 2013

Dan

Kitw

ood/Getty

Images

SHAWANO, Wis.—Atop awooded hill here in the heart ofAmerica’s Dairyland, an industrylegend was recently laid to rest.

It wasn’t some milk magnateor a famed innovator, but an or-nery, 2,700-pound bull namedToystory—a titan of artificial in-semination who sired an esti-mated 500,000 offspring in morethan 50 countries.

“He was a dream bull,” saidJan Hessel Bierma, editor inchief of dairy-breeding magazineHolstein International.

In the increasingly high-tech

world of cow reproduction, a topbull’s career tends to last just afew years as farmers chase bet-ter genetics to boost milk outputand animal durability, playing anumbers game not unlike a Ma-jor League Baseball manager.

Rare is the bull with thegenes and testicular fortitude tosell a million units of semen,known among breeders as themillionaires club.

Over nearly a decade, Toystoryshattered the record for sales ofthe slender straws that holdabout 1/20th of a teaspoon andare shipped using liquid nitrogento farmers around the world. Aunit fetches anywhere from a fewdollars to several hundred.

After joining the millionairesclub, Toystory surpassed SunnyBoy, a Dutch bull who sold morethan 1.7 million units in the

PleaseturntopageA6

BY MARK PETERS AND ILAN BRAT

A Breeder Apart: The Bull Who Sired 500,000 Is Gonei i i

Fans Commemorate ‘Toystory,’ a Dairy LegendWith a Ravenous Libido

Toystory

The body of Ahmed Merabet, a policeman killed during a terrorist attack last week in Paris, is carried during a funeral Tuesday at a Muslim cemetery.

Stocks Take a Roller-Coaster Ride

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Oct. 15, 2014Jan. 13, 2015Dec. 18, 2014Dec. 16, 2014Feb. 3, 2014

458.18424.78410.55359.85352.37

POINTSDATE

Dow Jones Industrial Averageat one-minute intervals

Tuesday’s swing

Largest intradayswings in the past 12 months

The Wall Street JournalSource: WSJ Market Data Group

18000

17500

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Jan. 12close

Open

17613.68

10 a.m. 11 Noon 1 p.m. 2 3 4

IN THE SWING: The Dow industrials finished 27 points lower Tuesday aftera volatile session that featured a 424-point intraday swing, the largest sinceOctober. Traders struggled to pinpoint a catalyst for the drop. C1

Obama seeks bipartisancommon ground............................ A4

CM Y K CompositeCompositeMAGENTA CYAN BLACK

P2JW014000-6-A00100-1--------XA CL,CN,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SC,SL,SW,TU,WB,WEBG,BM,BP,CC,CH,CK,CP,CT,DN,DR,FW,HL,HW,KS,LA,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO

P2JW014000-6-A00100-1--------XA

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