georgina taylor, invesco asset management.'s economy could see its 2009.drop in gdp since we look ahead to today's data next, this is bloomberg. ♪ >> the times are turbulent and they are complicated. >> everyone wants to know how quick the recovery well,. >> there is still a lot of uncertainty so we remain cautious. too early to is call an end to the globalized world. >> we see a u-shaped scenario. the yearon euros until and. -- year end. >> we do not know exactly how the restart and the unraveling of the current lockdowns of across the world are going to work. people,lways say to my the night is darkest before dawn so think about the future about what needs to be done now. nejra: that was a number of german company executives speaking to bloomberg about their outlook. german gdp and matt miller is in berlin. great to have you with us. what should we be focused on beyond that headline? >> think we should be focusing on where the drops are coming from. a substantialad shortfall in tax revenue in the first quarter according to f

we will speak to kristina hooper of invesco. that conversation is coming up next.speaking of markets, little bit of confidence in the stock markets today, across the board. health care and energy are two places showing leadership in the u.s. markets. we have some enthusiasm about reopening plans, albeit they are different everywhere you look. we are just learning about qatar 's sovereign wealth fund looking for a 7 billion euro loan, the terms not finalized. that would be back by equities. in canada, the government announcing another quarter billion of aid or the agricultural sector. we are still seeing signs that assistance is needed. companies are reporting, disney after the bell today. they joined 15% of companies reporting this week. still a lot to chew on for these markets, and we still have the tech stocks faring slightly better than the rest. there were leadership in the market continues. invesco isoper at with us now by telephone. so many crosscurrents for investors to absorb. it does feel like we have a determined optimism on the part of investors to look

invesco --t living leaving invesco a number of months ago. has data check today will be simple.yields continue to come in, including the 30 year bond in the u.s. lower. francine? francine: i am looking at oil. it is moving a little bit. oil is back up after what we saw the last couple of weeks. we had the iea reports. treasuries not moving much. if you look at these u.s. futures, i guess they are looking at a second wave of infections and tensions between u.s. and china. coming up next, tim graft, state meaeet head of e microstrategy. this is bloomberg. ♪ tom: good morning, everyone. bloomberg "surveillance." mark barnett at invesco is out. bloomberg reporting that. we look not at the single bet of the weekend which is simply buy america, large-cap, amazon or apple, but there has got to be something else. timothy graf is with state street and i knew him first with credit suisse. , where cut to the chase is the key opportunity 12 months out with in ema? timothy: we are looking at asia as the most obvious. they are the easy first in, first out virus story but more importantly it i

to use go into getting being the slow and make sure you know when to eastern invesco usefulness of gold in nature and suasion. if we have something like she's taken in the holocaust coming up we'll take arms. trying to defend truly needy loose i mean nobody lives anymore there isn't a coast again this lonely mrs tracy needs the. same wrong. all all. to get to shape out just to pick up the etiquette and engagement the trail. find themselves while the party. choose to look for common ground. we go to work. straight home. feel. good to god is the end 80 will be. pleased this is. the operation in dying one some of the wealthier neighborhoods it's been far more contained in the numbers are much lower than some of the for a neighborhood start to. decrease and we're working with going to source outside of state because they're just so 'd if you're so like you know you got it. hello there i'm fair in front like you're watching in question broadcasting from our team erica's national news headquarters here in washington d.c. we want to welcome our viewers from across the nation and around the wor

today ben is the director of model portfolio services for invesco.o important to get voices like that on this program. i know a lot of people are watching for that kind of insight. let's get the bloomberg business flash. the top business stories from the bloomberg terminal. germany's merck sees the coronavirus holding back earnings this year. the pharmaceutical company said it took a heavier toll than expected in the last quarter and it sees the pandemic peaking in europe and the u.s. in the second quarter before things start to normalize in the third. the pandemic will probably have an impact though through the whole year. americans will likely get sanofi's coronavirus vaccine first if it succeeds. the french pharmaceutical giant said that is because the u.s. was first in line to fund the research. the chief executive of sanofi is warning europe risks falling behind unless it steps up efforts to fight the virus with cash. fiat chrysler and p.s.a. have decided to scrap the dividends they agreed to pay as part of their merger deal. the two automakers

did want to highlight skrus to the prior point that pej is an etf, invesco leisure and entertainmentund disney the second biggest holding here it's restaurants, hotels, media companies. all the stuff most impacted by the shutdown it's up 12% week to date clearly that's been a theme running due. it's also down 37% from its high so that's the terrain that we're now trying to recover here and there's a lot of it in these types of stocks. it is succumbing below 30. we have a three-day weekend ahead. this should bleed lower. it should get toward a range more normal. to your point earlier, it still seems like there's aftershocks or agitation in the market just because the size of that downside shock in march was so great. it's slow to fade. >> thanks so much for that we have one minute left of the session. we're high by 1.7% on the s&p 500. the dow. up 370 points. the high was up 440 or so. nonetheless, still a healthy gain of 1.5% today on the dow. the nasdaq charged today it's up 2% in terms of the three major indices. energy at the top of the list up close to 4%. oil prices up 5% today

. >>> welcome back joining us now is the former vice chairman of investments at invesco what do you thinkto hear from chairman powell >> i think chairman powell basically has a consistent message, which is they will do whatever needs to be done to make sure we come out of this hole so far they have done an extraordinarily good job they have unfurled everything they could over a short period of time and they continue to add things to it they will start buying corporate bonds and they're doing basically everything they need to do. >> what should that mean for the markets? is this something that will push up market prices for some time to come? >> no, i think without the fed the market would not be where it is i think the markets are already discounts that commitment from the fed. i think for them, for the markets to blow up on the back of whatever he will say, it's going to take more than what they have done so far. i think for the markets to go up, we have to continue to open the economy and not have a flair up have a reversal somewhere. as long as that is the case, the markets will probab