Fuel Rebound Loses Steam Ogy, According to People Famil- Zoom Video’S Stock Iar with the Matter
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P2JW246000-6-A00100-17FFFF5178F ****** WEDNESDAY,SEPTEMBER 2, 2020 ~VOL. CCLXXVI NO.54 WSJ.com HHHH $4.00 DJIA 28645.66 À 215.61 0.8% NASDAQ 11939.67 À 1.4% STOXX 600 365.23 g 0.3% 10-YR. TREAS. À 7/32 , yield 0.672% OIL $42.76 À $0.15 GOLD $1,968.20 À $0.60 EURO $1.1913 YEN 105.96 Trump Visits Kenosha Amid Tensions Over Shooting TikTok’s What’s News AI Code Snarls Business&Finance Talks for eal talks forTikTok’s DU.S. operations have hit asnag over the ques- U.S. Deal tion of whether the app’s core algorithms canbein- cluded as part of adeal. A1 Bidders are unsure if A swift recovery in fuel China’s new export consumption by U.S. driv- restrictions cover the ers is petering out, posing new challenges to the oil video app’s algorithms market, economy and global energy industry. A1 Deal talks for TikTok’s U.S. U.S. factory output operations have hit asnag continued to grow in Au- over the question of whether gust, but the picture for the app’s core algorithms caN employment wasmixed. A2 be included as part of a deal, according to people familiar SeveraldozeN former with the matter. McDonald’sfranchisees sued the burgergiant, alleg- ing it sold Black owners By Liza Lin, subpar stores and failed to Aaron Tilley /REUTERS and Georgia Wells support their businesses. B1 Tesla said it plans to MILLIS Thealgorithms,which de- raise up to $5 billion LEAH termine the videos served to through stock offerings CAll FORORDER:President Trump said violencesparked by the policeshooting of JacobBlakeinthe Wisconsin city usersand areseen as TikTok’s from time to time. B1 amounted to ‘domestic terror’and touted lawenforcement.Hetalked with local businesspeople while surveying damage. A3 secret sauce, were considered part of the deal negotiations TheS&P 500 and Nas- up until Friday, when the Chi- daq climbed to fresh highs, nese government issued new gaining 0.8% and 1.4%, re- restrictions on the export of spectively,while the Dow artificial-intelligencetechnol- advanced 0.8%. B11 Fuel Rebound Loses Steam ogy, according to people famil- Zoom Video’s stock iar with the matter. soared 41% aday afterthe Nowboth sides aretrying companyreported another to figure out whether the or- big jump in usersand raised BY AMRITH RAMKUMAR advancebusiness-reopening tinue at itscurrent pace, espe- leum ExportingCountries and der means the algorithms itsfinancial forecast. B2 plans, rising cases in other cially with manyAmericans companies from Exxon Mobil need Chinese government ap- Aswiftrecoveryinfuel partsofthe countryare fuel- avoiding public transportation Corp.toChevron Corp.curb- proval fortransfer,and if so, South Korean prosecutors consumption by U.S. drivers ing caution among consumers. because of coronavirus con- ing supply in response to the whetherBeijing would sign indicted Samsung’sdefacto is petering out, posing new Manycompanies have de- cerns and seeking to take va- industry turmoil. Oil has re- off. Thecomplexity involved leader,alleging he manipu- challenges to the oil market, layedplans to reopen offices, cations beforesummer ends. mained in anarrow trading has reduced the chances that a lated stock prices and vio- economyand global energy while manyschool districts Combined with otherdata rangefor two months follow- deal could be completed soon. lated capital-marketslaws. B1 industry. and colleges around the coun- pointsshowing that improve- ing aswiftrebound after TikTok’sparent company, AT&T is exploring the Afterdemand forgasoline tryare opening with hybrid or mentsinconsumer spending prices in April briefly dropped ByteDanceLtd., has said it potential sale of its digital surged from mid-April to late remoteinstruction, taking a and hiring arecooling,the below$0for the firsttime. would comply with the Chi- advertising operations. B3 June,consumption has stayed biggerbiteout of fuel demand. slowerincrease in fuel de- As aresult, fuel prices also nese government order,and is relatively flat in thepast two Thetrend is athreat to the mand illustrates that the next have remained flat recently,a trying to get clarity from Bei- TheNYSE’splan to let months and remains well be- economybecause people tend phase of the economic recov- boon forthose consumers jing on howtoproceed with a firms raise capital through lowits prepandemic levels, to spend moremoney when erycould be moredifficult. who areable to take advan- sale if the newrestrictions ap- direct listingsisonpause af- government datashow. The they aremoving around and Thestalled demand re- tage at thepump but athreat ply to its algorithms, some of teramaneuver by an insti- fizzling rebound highlightsthe engaging with businesses. bound is helping keep U.S. to energy companies whose the people said. tutional investor group. B10 lingering effects of coronavi- Some analyststhink gasoline crude-oil prices stuck in the spending cutsand layoffs Forbidders, the idea of buy- rusprecautions and travel re- demand will need to rise for low$40s per barrel, even with could add to the pressureoN ing TikTok without the algo- World-Wide strictions.Evenassome states the economic recovery to con- the Organization of the Petro- PleaseturntopageA2 PleaseturntopageA6 Developing nations are at risk of being leftfar Chinese Demand Lifts Copper short of the Covid-19 vac- Black Candidates Gain Copper prices hit a two-year high Tuesday on evidence that cine supplies they need as China’s economic recovery pushed ahead in August, richer countries securebil- extending a recent rally for the industrial metal. B11 lions of doses even before the drugspassfinal clinical Copper storedinLondon Metal Priceofthree-month New Political Ground trials,health expertssay. A1 Exchange-approvedwarehouses copper forwards in London* Trump, in a visit to Ke- 700thousand metric tons $7,000 ametric ton BY AARON ZITNER Eight Black candidates,all Democratsand one is Republi- nosha, Wis., said violence sparked by the policeshoot- Democrats, wonseatsinma- can: Will HurdofTexas,who is Blackcandidates have be- jority-whiteorplurality-white retiring this year. ing of JacobBlakeamounted 600 6,500 gunwinning moreHouse seats districts, some in which 70% This year, at least 26 Black to “domestic terror” and and statewide offices,such as to 80% of residentsare white, candidates—22 Democratsand called for greater support 500 attorney general, in places including in New York’s Hud- four Republicans—have woN for law enforcement. A3 6,000 wheremost voters arewhite— son Valley and the suburbs primaryelections in additional Facebook said it took 400 adeparturefromdecades in outside Chicagoand Denver. districtswith large shares of down recently created ac- whichBlack political power Manybenefited from the whiteresidents. While most counts and pages linked to 300 5,500 wasrooted largely in minority year’s record voterturnout, have tough challenges in No- a Russian group that U.S. communities. whichwas the highest in a vember,atleast 10 areinraces authorities have accused 200 Officials and political ana- century for midterms and es- considered competitiveby of interfering in the 2016 5,000 lystssay these recent victories pecially helped DemocratsiN nonpartisan analysts. One, presidential election. A4 100 could position Black candi- suburbs near big cities. MondaireJones,isheavily fa- dates to win the highest state- The wins brought to 14 the voredtowin in asolidly Dem- Barr put newcurbs on gov- wide offices. There have been number of Black House mem- ocratic district in New York. ernment surveillanceofpolit- 0 MONTHLY 4,500 only two elected Black gover- bersrepresenting largely One forcebehind the ical campaigns,the latest fall- 2011 '15'20 Jan. Aug. out from areport that found norsinU.S.historyand six whiteconstituencies,upfrom changeisAmerica’sheight- BlacksenatorssinceRecon- eight in the prior Congress, ened partisanship.VotersiN problems with the way the *Prices through 2p.m. ET Tuesday Source:FactSet struction. and raised the totalnumber of both parties are more willing FBI sought to monitor an ex- The2018 midterm elections Black lawmakersinthe House to back whoever wins their Trump campaign adviser. A4 were alandmark in the House. to arecord52. Of those,51are PleaseturntopageA10 Mnuchin urged Con- gress to appropriate more money to fight the effects Everyone Is Watching the Skies, of the pandemic, saying he INSIDE Rich Nations Snap Up was ready to resume nego- And Seeing UFOs tiations at any time. A2 OL Sen. Ed Markey beat Rep. iii PO First Vaccine Doses S JoeKennedy III, amember of the famed political dynasty, Sightings are rising and 2020 shapes up /PRES BY SAEED SHAH in the Massachusetts Sen- capacity, experts said. to be a banner year for close encounters LANDIS Meanwhile,aninitiative ateDemocratic primary. A4 Developing nations areat backed by the World Health Or- Manhattan prosecutors HLEY AS risk of being leftfar short of ganization intended to pool can’t obtain Trump’s tax BY TE-PING CHEN “I waslike, ‘Oh my God, I the Covid-19 vaccine supplies global resourcestoefficiently returns during a pending sawaUFO,’ ” says Ms.Levine, SPORTS they need as richer countries buyand distributethe vaccine appeal, a three-judge In the wake of the coronavi- 26,anannyinthe Detroit George Hill sat. The securebillions of doses even equitably acrossthe world will panel ruled. A4 rus, sportsstadiums have area. “I mean, it wasdefinitely Milwaukee Bucksand before the drugspassfinal clin- struggle to obtain enough doses fallen silent,shopping malls unidentified.” ical trials,health expertssay. fordevelopingcountries to in- France’sMacron pressed the NBAstood