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Biden Wins Party's Nomination P2JW232000-6-A00100-17FFFF5178F ****** WEDNESDAY,AUGUST 19,2020~VOL. CCLXXVI NO.42 WSJ.com HHHH $4.00 DJIA 27778.07 g 66.84 0.2% NASDAQ 11210.84 À 0.7% STOXX 600 367.18 g 0.6% 10-YR. TREAS. À 5/32 , yield 0.668% OIL $42.89 unch GOLD $1,999.40 À $14.40 EURO $1.1931 YEN 105.41 What’s Biden Wins Party’sNomination News Formal stepatvirtual Democratic convention caps along career and Business&Finance comeback in primaries he S&P 500 closed at BY JOSHUA JAMERSON Tarecord3389.78, cap- AND CHAD DAY ping arebound fueled by government stimulus and Democratsformally made investor optimism about JoeBiden their presidential the world’sability to man- nominee, apolitical achieve- agethe pandemic. A1, B11 ment he has sought formore than threedecades,capping a Amazon is expanding its come-from-behind primaryvic- physical offices in six U.S. cit- tory that he secured with a ies and adding corporatejobs broad coalition of his party’s in those areas,indicating the voters. companyismaking long-term Shortly after10p.m. Eastern plans around officework. A1 time Tuesday, Mr.Biden re- Trump voiced support ceived the support of enough forOracle to buy the U.S. delegates to clinch the nomina- operations of TikTok,add- MMITTEE tion during aroll-call vote on ing afresh wrinkle to the CO the second night of the party’s bidding forthe Chinese- virtual national convention. He owned video-sharing app. B1 will facePresident Trump in NVENTION CO the November election. Walmart’ssales surged Mr.Biden made an appear- as it continued to use its TIONAL ancefromhis home stateof scale,e-commerce supply NA Delaware with his wife, Dr.Jill chain and grocerybusiness IC AT Biden, andtheir grandchildren to attract shoppers. B1 afterhesecured the nomina- Boeing plans morejob cuts tion. “It means the world to me DEMOCR in response to a pandemic- Former Vice President Joe Biden and his wife, Jill, on Tuesday after he was officially designated the Democratic presidential nominee. and my family,” he said. driven drop in jetliner demand Dr.Biden said in the night’s that it expects to continue final speech that profound mo- for at least three years. B1 mentsofgrief in her husband’s life—a 1972car accident that NBCUniversal said Vice PostmasterGeneral Suspends Cuts killed his firstwifeand a Chairman Ron Meyer is daughter and the 2015 death of leaving the company after his son Beau from cancer—had he disclosed having a con- WASHINGTON—Postmaster the agencywon’t changeretail Mr.DeJoy,aRepublican announcement suspending the made him an empathetic leader sensual affair and paying GeneralLouis DeJoy said the hoursatpost offices across Party fundraiser and logistics changes,but called him a fittolead the nation through a the woman asettlement. B1 U.S. Postal Serviceissuspend- the countryorclose anymail- executive, took the role of “good man.” pandemic that has claimed the States areseeking around ingoperational changes,such sorting facilities. postmaster general in June. “This pause only haltsa lives of morethan 171,000 $26.4 billion from major as removal of mail processing “To avoid even the appear- He has implemented changes, limited number of the Post- Americans. pharmaceutical industry equipment and collection boxes, anceofany impact on election such as controlling overtime master’s changes,does not re- “Howdoyou makeabrokeN players to help payfor dam- mail, Iamsuspending these and reducing extratrips, versedamagealready done, family whole? Thesame way agefromthe opioid crisis. A6 By Natalie Andrews, initiatives until afterthe elec- which some postal union rep- and alone is not enough to en- youmakeanation whole. With tion is concluded,” he said. resentatives and customers sure voters will not be disen- loveand understanding—and FedEx is adding extra Alexa Corse Theabout-facecomes as said caused delays. franchised by the President with small actsofkindness. fees on shipments during and Paul Ziobro Mr.DeJoy is due to testifybe- Mr.DeJoy didn’t specify this fall,” House Speaker With bravery. With unwavering the holidays, joining UPS until afterthe November elec- fore Congress this week, with whether the Postal Service NancyPelosi (D., Calif.) said of faith,” Dr.Biden said. and the Postal Service in tion, as the agencytries to re- Democratsset to accuse him would reverseany changes Mr.DeJoy’s announcement. Mr.Biden, 77 yearsold, implementing surcharges. B3 assurethe U.S. electoratethat it of working with President that have already been made. Republicans have largely de- PleaseturntopageA4 ViacomCBS is in talks to canhandle the anticipated Trump to sabotagethe out- APostal Servicespokesman fended Mr.DeJoy.While ac- sell CNET to Red Ventures, surge in mail-in voting. come of the election in which declined to comment beyond knowledging the problems Panel faults 2016 Trump as the media giant looks to Calling the timely delivery mail-invoting is expected to Mr. DeJoy’s statement. facedbythe Postal Service, campaign’s Russia ties......... A3 shed noncore assets and of thenation’s election mail a increase sharply because of Mr.Trump said Tuesdayhe they have said those issues Pool of swing voters shrinks focus on video streaming. B3 “sacred duty,” Mr. DeJoy said the coronavirus pandemic. wasn’t involved in Mr.DeJoy’s PleaseturntopageA5 but persists................................ A4 World-Wide AmazonOrdersUp S&P 500 Jumps to a New High, Democratsformally made Biden their presi- dential nominee,apoliti- calachievement he has More OfficeSpace, Erasing Pandemic-Tied Losses sought formorethan three decades,capping acome- Performancesince indexes’ BY MICHAEL WURSTHORN week foranalystsand investors from-behind primaryvic- Defying Tech Trend record closes on Feb. 19 who had watched the S&P 500 tory that he secured with TheS&P 500 closed at its crossthe milestone several abroad coalition of his 20% Nasdaq highest level ever Tuesday, cap- times in intradaytrading only party’s voters. A1, A4 Composite ping arebound fueled by gov- to pull back. Bear Thepostmaster general BY SEBASTIAN HERRERA arelooking forwardtoreturn- market ernmentstimulus and investor Shares of everything from ing to the office.” 10 optimism about the world’s big technologycompanies to said the USPS is suspending Amazon.comInc.isexpand- Amazon’smovetoexpand ability to managethe coronavi- beaten-down energy stocks have operational changes until af- ing itsphysical offices in six itsfootprint in various cities ruspandemic. rebounded sharply from their terthe election, as the agency U.S. cities and adding thou- and set expectations for a re- 0 Thebenchmark U.S. stock in- troughs.Amazon.comInc. tries to reassurethe electorate that it canhandle an expected sands of corporatejobs in turn to the officecontrasts dexrose 0.2% to close at shares have extended their those areas, an indication the with othermajor technology 3389.78, surpassing itsprior re- gains forthe year to nearly 80%, surge in mail-in voting. A1 –10 tech giant is making long-term companies that have imple- cord of 3386.15 from Feb. 19 while Halliburton Co.has more MembersofTrump’s 2016 plans around officework even mented remotework and pre- S&P500 and erasing aplungeduring than tripled from itsMarch low campaign represented ama- as other companies embrace dicted it will last long after Februaryand March that ended and cut its2020 losses to 33%. –20 +0.1% jor counterintelligencerisk to lasting remote employment. the coronavirus pandemic. 3389.78 thelongest-running bull market Clorox Co.has been among the the U.S. due to their contacts “The ability to connect with Facebook Inc.said in Mayit ever.The S&P 500 is nowup winnersofthe pandemic,climb- First record with Kremlin-connected in- people,the ability forteams to would shifttoward asubstan- –30 of current 4.9% this year. ing 49% this year. dividuals, abipartisan Sen- work together in an ad hoc tially remoteworkforce over bull market Thewhole chapter,from Thestock market’sturn- ateinquiryconcluded. A3 fashion—you candoitvirtu- the next decade,and Twitter peak to peak,spanned 126 trad- around reflectsinvestors’ bets PleaseturntopageA2 Putin warned topEuro- ally,but it isn’t as spontane- Inc.has told employees they –40 ing days and marks the index’s pean leadersagainst interfer- ous,” said Ardine Williams, canwork from home indefi- fastest-ever recovery from a vicepresident of workforce nitely.Facebook CEO Mark March Aug. bear market.The record also James Mackintosh: Market is ing in the political crisis en- development at Amazon. “We PleaseturntopageA6 Source:FactSet ended anticipation over the last exuberant, but no bubble...B11 gulfing Russia ally Belarus. A8 An international tribunal convicted aHezbollah mem- THE COVID STORM ber of terrorism and homi- CruelSummer cide in the assassination of Lebanon’sHariri in 2005. A7 Leaves Interns ThreeLostWeeks Salesforce. China is conducting a purge of its powerful do- On Their Own #1 CRM. mestic-security apparatus iii Stalled Virus Testing that has already takeN down dozens of officials. A8 Some learned Ranked #1 for CRM Applications basedon Mali’spresident an- IDC 2019H1 Revenue Market ShareWorldwide. nounced his resignation af- to work from Pathogen spread unchecked in February 17.3% terbeing detained by sol- diersinanapparent coup. A9 childhood bedrooms while problems plagued U.S. federal test forit Israel and Sudan said they are working on a deal BY KATHRYN DILL Alex Azar’s face reddened him the agency hadn’t yet when he heard the news: The found a fix to the problem in to formalize relations. A7 Nokia Corporation intern only federally authorized the CDC-designed test. Trumppardoned Susan Shivam Dayama and several tests to detect whether This was a serious compli- B. Anthonyonthe 100th an- fellowinterns were heading to Americans were infected cation. Some public-health niversaryofthe ratification asocially distanced lunch in with the new coronavirus authorities feared the virus of the 19th Amendment. A5 their company’sempty court- might be spreading in the 5.5% yard when astrangething hap- By Stephanie Armour, U.S. Mr. Azar asked if the 5.3% 3.5% CONTENTS Personal Journal A11-12 pened: They bumped into an- Brianna Abbott, CDC could go faster.
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