good morning, donald trump<u+2019>s transition team raced to form his cabinet on thursday as more names were floated for some of the biggest jobs in the president-elect<u+2019>s administration, including a foe of financial regulation for the powerful position of treasury secretary. u.s. rep. jeb hensarling, a texas republican known for his sharp criticism of the 2010 financial regulatory overhaul, is among a growing list of potential nominees for the cabinet, including alabama sen. jeff sessions and former new york mayor rudy giuliani, among others. mr. trump<u+2019>s campaign manager kellyanne conway said on twitter that she has already been offered a white house job. meanwhile, mr. trump met with president obama for the first time in the oval office, as well as with republican leaders on capitol hill. his transition team, which relies on a mix of gop traditionalists and outsiders, promised to dismantle the 2010 dodd-frank law, while we report that mr. trump<u+2019>s goal of undoing nafta would confront the globalized auto industry. the dow industrials climbed to a record and bond yields rose around the world for a second day thursday, as investors applauded the prospects of expansive fiscal spending under a trump administration. the dow has risen 2.7% since its close tuesday, reflecting a bet that republican control of the white house and congress would enable passage of a fiscal stimulus plan, tax cuts and a regulatory rollback. selling intensified in the bond market, with the 10-year treasury note<u+2019>s yield rising for the fourth straight day to 2.118%. yet some believe a reckoning could await, reflecting unease over volatile stock and bond markets, tepid economic fundamentals and uncertainty over what policies will actually move forward in coming months. we probe why bank investors are predicting a trump windfall, which sectors have been losers and winners since tuesday and why forecasts for a trump victory market collapse were so wrong. with just two weeks until black friday, executives at the nation<u+2019>s biggest department stores said thursday they are seeing signs that consumers are turning their attention from voting to shopping. macy<u+2019>s and kohl<u+2019>s cited improving sales trends and gave upbeat outlooks for the key holiday season, despite posting another quarter of declining sales as the chains struggle with changing shopping habits and competition from discounters. nordstrom, meanwhile, reported a sales increase and lifted its financial targets for the year. as for an election hangover, macy<u+2019>s ceo terry lundgren said: <u+201c>to have a group of the population feeling like their voices have been heard is a positive thing.<u+201d> shares of the companies rallied in thursday<u+2019>s trading, giving a lift to other retail stocks. what<u+2019>s the difference between a <u+201c>modern<u+201d> home and a <u+201c>contemporary<u+201d> one? about $275,000. that<u+2019>s the gap in listing prices for luxury homes described as modern and those called contemporary, according to an analysis of luxury homes by listings website realtor.com. but actually defining the two styles is a far trickier matter<u+2014>and one that confounds many real-estate professionals, homeowners, builders and even some architects. frequently, the terms are used interchangeably, and the definitions have changed. modern homes and d<u+00e9>cor have the simple lines and <u+201c>stripped-down<u+201d> aesthetic of 1940s, <u+2019>50s and <u+2019>60s modernism, while contemporary homes are often more playful in combining materials and bright colors. learn why defining something as contemporary isn<u+2019>t necessarily good for home sellers, and take our quiz to see if you can tell the difference. even after mr. trump takes the oath of office in january, he will have to face a number of private lawsuits across the country. charles schumer takes on role of democrats<u+2019> defender trade, not immigrants, may have been key motivator of donald trump<u+2019>s voters donald trump<u+2019>s foreign policy stances sow uncertainty trump<u+2019>s vow to target china<u+2019>s currency could be first step to trade war disney results disappoint as cable revenue declines online upstart harry<u+2019>s razor jumps into gillette<u+2019>s turf donald trump is actually making wall street strategists look smart the few on wall street who predicted a donald trump victory the value of an investment a carlyle group hedge fund made last year in a moroccan oil-refinery deal<u+2014> all of which the fund subsequently lost. the hedge fund, known as vermillion, was to receive a share of revenue at the refinery, which ran into financial trouble and was seized by moroccan authorities later in 2015. <u+2018> there was communication<u+2026>naturally, we are continuing this work even after the elections. <u+2019> going back to our story above, do you plan to do more of your holiday shopping in person or online? send your comments, which we may edit before publication, to 10point@wsj.com . please include your name and location. <u+2014>compiled by margaret rawson responding to yesterday<u+2019>s question on turnout in the presidential race, bob sutphen of florida said: <u+201c>the facts are turnout was down for mrs. clinton and mr. trump!<u+2026>neither reached recent turnout levels for their party! democrats stayed home. it was the battle of the least <u+2018>deplorables<u+2019> and mr. trump got just the votes he needed where he needed them.<u+201d> roy farrow of nevada wrote: <u+201c>the vast middle strikes back. for too many years the rich got richer, the poor received more assistance, while those in the middle bore the brunt of government largesse and government actions that made lives more complicated and expensive<u+2026>mr. trump read the tea leaves, vanquished the two imperial familial candidates and will change the dynamic of our country.<u+201d> russ lam of texas commented: <u+201c>if mr. trump can remember that part of his successful campaign was due to an extraordinary woman, kellyanne conway, and minorities that abstained and gave him a chance, then maybe those minority members will be voting supporters next time. if democrats/liberals can acknowledge a successful woman that is conservative, then maybe they can achieve some growth from their loss.<u+201d> and jean and bob radin of california shared: <u+201c>we are deeply concerned about the direction this country could take under mr. trump. he didn<u+2019>t win the popular vote, so he doesn<u+2019>t have a clear mandate. obviously the evangelical churches failed if they supported a candidate who vilified women, minorities, the disabled, veterans, and other religions. now is the chance for the republicans (what<u+2019>s left of the party) to step up and work for the good of all citizens. however, we are not hopeful that this will happen.<u+201d> 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. sign up here to receive <u+201c>brexit & beyond: europe in flux,<u+201d> a daily email update on the unfolding brexit process and its global implications for business and finance. click here to sign up for this briefing by email.
the 10-point. - wsj
gerard baker