Around. The nasdaq with a 1. 4 gain. The dow and the s p following suit, not quite as strongly, thanks to apple and microsoft. The 10year yield back up 256 basis points. Gold taking a little breather. To 56 basis points. To point out some of those companies i was microsoft is up. Adt is up with google taking a substantial stake in adt. Apple accounting for much of todays game. Is up as wellrck on the vaccine part of the pipeline. The markets are up today, some good signs but also some questionable signs. Manufacturing and new orders coming in above 50, so expansionary territory. Englander, in steven Standard Chartered bank, g10 fx research. Huge dynamics at play. How are you reading the current data . Tends toirstly, ism report what is happening among big manufacturing firms. The employment component was. Till soft the commentary around the strong numbers was also very cautious. I would say the impact of the numbers were a lot less than the upside surprise. Definitely, 44. 3 reading for july employment is not the best. 7 , whenon was down economies were looking that to be positive at 1 . ,here do you imagine we are given we are likely to see starting and stopping in the economy for several months . Steven through may and june, it looked like we were through the early part of the vshaped juneery, extending from and to the middle of august. It is a lot flatter, not completely flat. But we are already seeing cases, both in the first round of ge statesates sur coming off, and the rest of the country beginning to come off. Unfortunately, it looks like the death toll is still rising. Second half of august, i think the reopening should be a little more powerful. If we take precautions, mask wearing, social distancing, the number of cases will be on the downward trajectory that would enable a more vigorous reopening to begin again. Youie how concerned are for the extra Unemployment Benefits falling off . We have a meeting going on right now, we will update people. At this point, very urgent that the federal government, that congress does something. What is the very least they need to do in order to keep america afloat . Is 600 orther it 700 or 500, a significant renewed. S to be question for how long they should be renewed, whether it should be contingent on the aggregate Unemployment Rate, i think that is what is under discussion. Given that the fed has complacently endorsed extending the benefits, i think it is a losing battle for the republicans, both legislatively and politically, in terms of the election, to really dig their heels in. My guess is we might get a significant extension for at least a couple of months. Vonnie lets get to the dollar. You have been looking at a weaker dollar since it hit its alltime high in march, 10 swing. The dollar as i read . Steven we recently lowered our forecast for the dollar. The dollar is having a soft day today. That should weaken the dollar. We are seeing real Interest Rates going down almost on a daily basis. Of liquidity, dollar liquidity in the world, just like the fed wanted. As well as the political aspect, the successive administrations, but the Trump Administration most recently has politicized using the dollar payment system. Other countries will back away from it if they can, reducing dollar holdings. Vonnie i was reading another note that brought up the concept of the dollar smile. Do you remember that . What happens in a scenario like that, are we in the middle of the dollar smile . Steven i think that would be the case. Last couple of years, u. S. Equities outperformed, the u. S. Was a safe haven, the highest Interest Rates than anywhere, strong motivation to hold dollars. All of that has diminished. We think there is catch up potential in asia and elsewhere. Equity markets have underperformed but valuations seem a little bit out of whack. Currencies are quite cheap. We think there is room for the dollar to keep falling. G10, butstly against we expect it to extend into em over time. Vonnie we have seen big moves for the euro recently and to a lesser extent, sterling, mexican peso. What will be the best beneficiary at this time . Ultimately, i think emerging markets. That weak em is a threemonth story. They have basically been on a downward path since 2011, 2012. There is room for them to come back, especially because it looks like what is sustained, in terms of demand we all buy goods now, not services. Many of the em countries have a good ability to produce services. Not talking about a week but over the next six months, year, we should see some of the stronger em countries, including , make gains inia relative and absolute sense. Vonnie steven englander, thank you. The president speaking in the last few minutes. Tiktok has come up, of course. He has decided tiktok will be out of business in the u. S. By september 15 is not sold. Most likely sold to microsoft, tiktokill put, i guess, out of business in the United States. Paymentsaid he wants a as part of the tiktok sales. We will be talking about this in a few minutes. First, lets get the first word news with karina mitchell. Karina the white house is exploring whether President Trump can act on a virus relief plan without the approval of congress. The president is considering an on a plumbing benefits and in fiction section if lawmakers failed to act. Benefits expired friday. Democrats and republicans have been unable to reach an agreement on a new stimulus package. Talks resuming today. The Trump Campaign reset its ad strategy today with two w a new as seeking to cast doubt on joe biden. The ads say that he would crush middle income families. A biden spokesperson says trumps claims are his attempt to distract the public from the coronavirus pandemic. Nobel peace prize winner john hume has died. He was one of the chief architects of the good friday agreement that brought peace to northern ireland. The deal ended the conflict among Paramilitary Forces and British Security forces. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. Im karina mitchell. This is bloomberg. Vonnie this is Bloomberg Markets. Im vonnie quinn. Home Security Company adt got a partner today as alphabet spent 450 million to buy a 6. 6 stake and combine their strength. Scarlet fu is looking at the deal. This is the other big tech deal making headlines today. Google investing almost half 1 billion to expand its smart home offerings, to get this equity stake. Theshares doubled within news within 30 minutes of trade and have pulled back a little bit. This is a combination of googles hardware with its adtsre, plus installation, service and monitoring, and distribution network. Each company will also put in million for0 training employees. Up0 million is not even show a top 10 of purchases, but for adt and apollo, this is a game changer. Until today, the stock is never traded above its 14 ipo price. Apollo will hold on to their state. Google will be the number two shareholder in the country wants this deal closes. This gives adt a new talking point when the report earnings on wednesday. Ever since we looked at the revenue, projected to go from doubledigit gains to singledigit declines in the second and Third Quarter. Vonnie Morgan Stanley raising their price target on adt after dollars,17 from seven another three dollars on top of where we are now. Good news for adt and apollo. What about some of the other Security Companies . Scarlet pretty bad news for those guys. A 2. 7 billion market cap, seeing some declines. Seeing another company lose ground by 15 . But we are missing the point by focusing on these smaller companies. This is about google competing with amazon. Google has 40 of the smart home market. Amazon has about a 35 market share. Google, up until now, did not have a distribution network, does not have a retail Sales Network like the way apple or microsoft does. It also does not have a marketplace like amazon does. Now it has a network to build this out. Vonnie scarlett, thank you for breaking that down for us. Still ahead, black on wall street. Our conversation with the youngest female trader to ever work on the New York Stock Exchange floor. Lauren simmons joins. This is bloomberg. Vonnie this is Bloomberg Markets. Im vonnie quinn. The latest edition of Bloomberg Markets magazine is the diversity issue, highlighting the Untold Stories of black men and women on wall street. Lauren simmons was the youngest female trigger to work on the nyse floor, only the second black women to do so when she took a job at rosenblatt securities. Thatround her use to bet she could not pass the series 19 entrance exam. She did. She now has two podcasts and a book in the works. Sonali basak is with us now. Thank you for joining us. One of the things you mentioned to our colleague Chelsea Butler is that some new people on wall street might be frustrated with some of these Diversity Efforts and start to look elsewhere, formed their own companies to work. Do you think wall street remains an attractive place to work for younger talent . I think wall street has definitely established themselves as a goal to want to achieve but i think the lack of diversity over decades, anything past 2000 anything is unfortunate. I do think that we will see a lot of especially john z gen zers making their own firms, and they will make diversity and inclusion a top priority. Vonnie it is hilarious that anybody would have thought that you could not pass the exams. What other roadblocks did you have in your early days, and even now, in wall street . Roadblocks again, back to the series 19, it is an 80 fail rate. The hand that you are given doesnt have much information. It is the book you want to study from. Prior to the exchange being public, it was private, so many men on the floor never actually took the exam. A pack of beer, give it to the test administrator, and that is how they would pass. Everybody knew coming onto the floor, it is difficult because you go around asking questions of what might be on the test, and they could not give any insight. Hard. Able to pass was studyingly because of the book, which was thick. Sonali there are not a lot of people like you on wall street, young, black, female. Looking at the men who run wall street, what advice do you have to give to them on what they can do to recruit more young black women on to wall street . Lauren they will have to be ok with putting themselves in different scenarios. Obviously, theyre recruiting process over years, centuries, has not worked to get different type of talent. In newve to find people york, they can find people in middle america, but they are going to have to stop with going to the traditional ivy leagues and picking from a certain talentphic, as well as applying for jobs, they will have to put themselves in uncomfortable situations, beyond their mind, apply for jobs outside of their comfort zone. Vonnie i just want to give a shout out to Martina Edwards of bank of america, the first woman to have a role on the floor of the New York Stock Exchange. Talk about how you began your company, why you decided this particular role in the first place . Lauren i came from georgia, decided i really wanted to live in new york. Very much a mindset after you graduate, new york or l. A. I ended up meeting a gentleman who worked for Goldman Sachs, an africanamerican, and he told me point blank Goldman Sachs would not hire me. He wouldnt give me any clarity as to why. He would introduce me to a colleague that worked at the New York Stock Exchange, and what i be interested in an equity trading position. Of course, for me, i was greatng, this would be a opportunity to work for the New York Stock Exchange, build my resume, and do Something Else in finance. I met richard rosenblatt, and he is the best mentor. He hired me on the spot. Sonali you are about to write a couple of books, maybe develop a tv show. What do you want to accomplish . I am just so open to new opportunities, so grateful to be a producer on a biopic on my life story, as well as being a producer on two scripted tv series, one coming out in 2021. More announcements to come. To blazent to continue a trail in areas where minorities are not looked at, open up the door for more opportunities, for more people who look like me to come along and do something that they are passionate about. Going above their limitations. Enjoy your time at the New York Stock Exchange, would you consider doing it again, advocate others doing it . Lauren i enjoyed my time on the Trading Floor for what it was. The reality is, i was only making 23,000 working at the New York Stock Exchange. , i stillto do it again had the mentality that if i worked for the stock exchange, it would be a Great Foundation to lead me to better opportunities. I donte, it did, but think that is the story for many people that come to the New York Stock Exchange. Most people under the age of 30 come to the trading or thinking it will be a platform or gateway to other opportunities. The reality is equity traders are slowly dwindling. Algorithms way more passive. The opportunities that you would get before i just not there. No, inancial reasons, dont think i would come back or advocate people go to the Trading Floor. But being in his basement in the financial industry and getting paid what you are worth, i would tell people to do that. Make sure they are passionate about what they do. Vonnie cannot wait to see what emerges next, the path that you will take. That is lauren simmons, entrepreneur, former New York Stock Exchange trader, and a character in a story that was written by sonali basak and others in the current Bloomberg Markets magazine. Fromtuned, more highlights that particular edition of the magazine coming up at 4 30 new york time. Now we want to get to President Trump, who has been speaking the last few minutes, at a white house event, as negotiations continue on further stimulus. Whatsoever. Problem importantly, i did not test positive. That is very nice. Im very happy about that negative. So that is the story. Doctor,ingly, a great from what i understand, from yale, feels strongly about hydroxychloroquine. Cameord clinic in michigan out with a very, very powerful paper saying it is very good. Youhers in france know they came out with a positive statement. Many individual doctors have, with positive statements. If i was surrounded by people as i was at the time the reason i took it there were people relatively near me that tested positive. I took it for that reason just because i heard good things. Fauci says it does not work. I dont agree with fauci on everything. I get along with him great, but he didnt want to ban people from china on coming into the country. I overwrote him and i did the right thing. He was saying face masks were no good a short while ago. It doesnt mean he is a bad person. He is a good person. I like him. But we disagree on things. I will say this. We have done an amazing job with ventilators. We were supplying the world with ventilators. Very hard to make, very complex. Very complicated machines. Hold it. Why so many deaths . The u. S. Has so many deaths, more than any other country in the world. Fake news. Cnn. We have not been given enough credit. Not me. The Vice President , the task force have not been given enough credit. Countries all over the world are exploding now, people that you said were doing a wonderful job. Take a look at the countries that are exploding. Italy, spain, germany are back. And that is not to knock them. It is a very delicate, very contagious disease that was released by china. It never should have been allowed to be released. And could have stopped it, they did stop it from going into china. Now they say china is having problems. Moscow, russia is having tremendous problems. What china unleashed is a very sad situation. With all of that being understood, the United States has done an amazing job, a great job, and you will see that. We have vaccines and therapeutics coming soon. Why are you not involved directly in negotiations with capitol hill . The fact that im not over there with crazy nancy . I am totally involved. We are doing things that are good. What Chuck Schumer wants more than anybody, and i would say nancy pelosi would be second, they want to bail out cities and states that have done a bad job over a longer into of time. It has nothing to do with coronavirus or china virus or whatever you want to call it. They want bailout money. A trillion dollars in bailout money. A lot of people dont want to do that because they dont think its right. The democrats have run some very bad states and cities, and a lot of people dont want to reward them for doing a bad job. If you look at some of the states i will not insult anybody by naming the states but they want bailout money. They are not interested in the people, unemployment, evictions, which is a big deal. They want to evict a lot of people a lot of people will be infected. Im going to stop it because i can do it myself if i have to. I have powers with respect to executive orders. What the democrats want, they are slow rolling it. All theyre interested in is bailout money to bail out radical left governors, radical ,eft mayors like in portland places that are so badly run, chicago, new york city, you see what is going on over there, bailout cities and states who have been poorly run a