Good Thursday. Here’s what we’re watching:

• America’s edge in trade negotiations? Experience

• The S.E.C. wants to hear from Jay-Z

• Tesla’s shares are down after its earnings call late Wednesday

• Cambridge Analytica goes down, but a sequel is in the works

• China’s biggest unicorn heads to the public markets

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America’s edge in trade negotiations? Experience

China and the U.S. have both played down the possibility that this week’s negotiations could resolve simmering trade tensions between the two countries.

But The NYT’s Keith Bradsher reports a lack of experience in international trade law among Chinese officials “could make it even harder for the two sides to find common ground before the talks end on Friday.”