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* * * * * MONDAY, JUNE 8, 2020 ~ VOL. CCLXXV NO. 133 WSJ.com HHHH $4 .00
Lastweek: DJIA 27110.98 À 1727.87 6.8% NASDAQ 9814.08 À 3.4% STOXX600 375.32 À 7.1% 10-YR. TREASURY g 2 13/32 , yield 0.903% OIL $39.55 À $4.06 EURO $1.1290 YEN 109.59
BY TALAL ANSARIAND BRIANNA ABBOTT
BY REBECCA ELLIOTT
U.S. OilDrillersPump UpOutputPrices start to recoverwith demand, but notenough for producersto open new wells
and grandchildren.And this spring, they grew
sick there together. For weeksin early April, seven familymembers staying in the three-bedroom home were strickenby the new coronavirus, sev-eral of them recounted. Fiveended up in the hospital. Twodied.
“I was just wishing that wehad extra rooms, so we couldhave separated,” said Ms.Woods, 71, who for yearsowned a barbecue restaurant
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The Woods family did ev-erything together at thehouse on Paden Road in Gads-den, Ala. They gathered therebefore going to high-school
football games on Fridaynights. They ate there afterchurch on Sundays, when thefamily matriarch, BarbaraWoods, would make chickenand dressing for her children
By Ian Lovett,Dan Frosch andPaul Overberg
Answers aboutthe fate of the‘Salvator Mundi’painting emergein Riyadh, alongwith details ofthe kingdom’sambitions to lurethe art world. A11
dalgona—named after a toffee-like South Korean candy—hascreated a global phenomenon.Captivated caffeine fans inAmerica, Canada, China andelsewhere are posting hun-dreds of online tutorial videoson how to make the beverageon TikTok, Instagram and You-Tube. It isn’t a quick fix.
The drink is made by mix-ing equal amounts of instant-coffee powder, white sugarand hot water, then whiskingvigorously to create a caramel-colored frothy mixture thatcan be spooned over hot orcold milk.
Even when everything goesPleaseturntopageA9
Long reviled by coffeesnobs, instant coffee is havingits moment.
There’s just one issue: Peo-ple are spending an awful lotof time trying to make it tastegood.
A creamy concoction called
BY FRANCES YOON
Caffeine Fans Take the Slow Road to Instant Coffeei i i
Drink called dalgona can mean lot of stirring; also, cleaning up
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The largest demonstrationssparked by the killing ofGeorge Floyd remained mostlypeaceful across the U.S. thisweekend, as protesters saidthey didn’t plan to stop rally-ing until they saw concretechanges in policing.
On Sunday, a veto-proofmajority of the City Council inMinneapolis—where Mr. Floydwas killed—agreed to disbandthe Police Department and
tion Monday that would lowerbarriers to prosecuting policefor misconduct. Rep. KarenBass, a California Democratand chairwoman of the Con-gressional Black Caucus, said
create a different public-safetysystem. Members called it anecessary step after decadesof incremental police reform.
From New York to Los An-geles, and in cities of all sizesin between, protesters askedofficials to defund police de-partments and redirect thosefunds to other programs. Theycalled for banning policechokeholds and revampinglaw-enforcement training pro-grams.
Democrats in Congress saidthey plan to introduce legisla-
Sunday that the Justice in Po-licing Act would hold policeofficers more accountable, re-quire bias training and im-prove efforts to track episodesof misconduct.
Following peaceful demon-strations in Washington, Presi-dent Trump ordered the Na-tional Guard to withdraw fromthe capital, and mayors in NewYork City, Chicago and Phila-delphia lifted curfews Sunday.
Other officials have prom-ised changes in recent days.
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BY JENNIFER CALFASAND ELIZABETH FINDELL
Wave of Protests Fuels MovesTo Shift Funding From Police
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Protests continued around the U.S. on Sunday in response to the killing of George Floyd. At a rally in Washington, demonstrators layin the street to signify the more than eight minutes Mr. Floyd was held down with a knee to his neck by a Minneapolis police officer.
California, ArizonaAnd Other StatesSee Rise in Covid-19
U.S. oil producers are re-opening the spigots, complicat-ing the crude market’s recovery.
Scores of shale-drilling com-panies turned off wells to re-duce output when U.S. oilprices fell to negative territoryin late April, after millionsworld-wide stopped driving andflying because of the new coro-navirus, causing a steep drop inglobal demand.
Now that more of the worldis reopening and prices are re-bounding to nearly $40 a bar-rel, companies including Pars-ley Energy Inc. and WPXEnergy Inc. are starting to turnsome of those wells back on,even as they continue to put offmost new drilling.
The increased volumes re-main far below peak levels be-fore the pandemic, when theU.S. was pumping more than 13million barrels a day of crude,the most in the world. But theoil market remains fragile, andmany of the world’s other topproducers are still voluntarilycurtailing their output to helprebalance supply and demand.
The Organization of the Pe-troleum Exporting Countriesand its allies, which agreed inApril to limit production by9.7 million barrels a day
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The reality on the groundappears to be worse. Manypeople in China have returnedto work as the pathogen sub-sides, but anecdotal evidenceand economists’ calculationssuggest that China’s labormarket is in worse shape thanofficial government data show.
Millions of laborers wholost their jobs weren’t countedin China’s headline unemploy-
ment rate because of quirks inthe way the data are gath-ered—and many still haven’treturned to work. Othersfound new jobs but had to ac-cept pay cuts or fewer hours.
Independent economists inChina and Hong Kong esti-
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The U.S., reeling from thecoronavirus, has suffered itsworst surge in unemploymentsince the Great Depression. Bycontrast, the pandemic hasbarely touched China’s officialjobless rate, which inched upfrom 5.3% in January to just6% most recently.
BY CHAO DENGAND JONATHAN CHENG
Economists Doubt StrengthOf China’s Labor Market
Saudis’Secretda VinciPlans
A Push for Change Poll finds police action
troubles many in U.S..... A4 How to talk to children
about protests............... A12 Inside the NFL’s 72-hour
awakening....................... A14
Hong Kong braces for U.S.trade cuts.................................... A9
time, New York City, the U.S.area hit hardest by the pan-demic, has seen a drop in casesand deaths and plans to beginreopening its economy Monday.
“It’s a very mixed picture,”said Wafaa El-Sadr, an infec-tious-disease specialist andepidemiologist at ColumbiaUniversity. “In some places wehave made amazing progress,
PleaseturntopageA2
Nearly three months sincethe U.S. declared a nationalemergency over the new coro-navirus, some states are re-porting a rise in new cases asthey lift restrictions meant toslow the virus’s spread.
California, Utah, Arizona,North Carolina, Florida, Arkan-sas and Texas, among others,have all logged rises in con-firmed cases, according to aJohns Hopkins tabulation of afive-day moving average. Mean-
Virus Stalks FamiliesIn Large HouseholdsRural regions can be deadlier than denselypacked city blocks, a Journal analysis shows
States struggle to staff up totrace virus.................................... A3
IRS faces next challenge ofreopening..................................... A4
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CONTENTSBusiness& FinanceB2,5,6Business News....... B3Crossword.............. A14Heard on Street... B10Life & Arts...... A11-13Markets............... B9,10
Opinion.............. A15-17Outlook....................... A2Sports....................... A14Technology................ B4U.S. News......... A2-4,6Weather................... A14World News... A8-9,18
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What’sNews
The largest protestssparked by the killing ofGeorge Floyd remainedpeaceful across the U.S., asemboldened organizers saidthey didn’t plan to stop ral-lying until they saw concretechanges in policing. A1, A6 Voters by a 2-to-1 marginare more troubled by policeactions in the Floyd killingthan by violence at someprotests, a new poll found.A4 Some U.S. states are re-porting a rise in new coro-navirus cases as they liftrestrictions meant to slowthe pathogen’s spread. A1 India is struggling tosuppress the coronavirus inMumbai as the city’s hospitalsare pushed to the brink. A18 U.S. allies in Europe ex-pressed dismay over Trump’splan to slash the number ofAmerican troops in Germany,saying it undermined NATOand boosted adversaries. A8 Families of U.S. troopsand personnel wounded orkilled in Afghanistan haveaccused two U.S. contrac-tors of paying protectionmoney to the Taliban. A18 French military forcesdeployed in Mali killed asenior al Qaeda com-mander in Africa, ending adecadeslong manhunt. A18
American oil producersare reopening some
idled wells, complicatingthe crude market’s recovery,while they continue to putoff most new drilling. A1China’s labormarket is inworse shape than official gov-ernment data show, anecdotalevidence and economists’calculations suggest. A1The U.S. decision to re-scind Hong Kong’s status as alargely autonomous Chineseterritory could herald the im-pairment of the city’s role asa trading and finance hub.A9NASA’s inspector generalis probing an allegation thata high-ranking agency officialthis year improperly guidedBoeing regarding a contestfor lunar-lander contracts. B1Federal stimulusmoney iskeeping airlines afloat throughthe crisis, but is proving inad-equate to sustain the indus-try at pre-pandemic size. B1The NewYork Times saideditorial-page editor Bennetresigned, amove that followsa controversy stemmingfrom an opinion column. B1 Chuck E. Cheese is intalks with its lenders to raisemoney to avoid a bankruptcyfiling, according to peoplefamiliar with the matter. B3
Business&Finance
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JOURNAL REPORTInvesting in Funds:Will bonds overtake
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