now this is not a structural chinese decline versus a stimulus-driven recovery for hina? i think that's the big question everyone is challenged with today. scarlet coat not volatility has listened to the green by the end of trading. for the remarkable we open higher and probably gave of our advantage and by midday were at session lows and kind of grounded our way higher -- grind it our way higher toward gains. joe: pretty impressive comeback. we started green, and then it sort of all disappeared, and there we go. not a huge game, but the rebound stands out. scarlet: earnings overall were not that negative. that is the story of the day. we should also mention the s&p 500 has held above its 50-day moving average, a technical level and a lot of people have been looking at. maybe it says something about the durability of this new year

advance. for now, we want to go to our reporters to get a sense of what they are tracking. taylor: i'm taking a look at small caps, the more domestic stocks that are insulated a little more from the trade wars we're talking about. the small-cap stocks in the russell 2000 finally posting their best performance relative to the s&p 500 going back since august. you have the russell 2000 up about 8% so far this year. jpmorgan said small caps look more attractive than he has seen going back 18 years -- jpmorgan's head of trading. a's exciting because you had weaker dollar this year. to see ifg a look small caps can make a rebound. lisa: i'm looking at venezuela, bonds in particular. they have already defaulted, but they surged the most in six months when it became clear that

the venezuelan opposition leader was gaining support from the likes of president trump, not to mention other leaders in the region. you can see the bond popping up and keeping their gains throughout the day with the idea that if maduro is kicked out of office, that will be a net positive for the country which has been mired in a food shortage as well as political turmoil over the past few years. >> this is our chart of the day, a one-year chart. last year, the 50-day moving average was buying support, but as the index peaked toward its all-time high and moved below that 50-day moving average, over the last few months, it has turned into resistance, but this is the for close up of that 50-day moving average. the question now is if that resistance might turn back into support.

i'm interested to hear what gina things about that. another weekly close to see if there is any real turnaround there. scarlet: we will keep an eye on that but in the meantime keeping and i on earnings because texas instruments has just reported. eps was better than expected. the revenue outlook is where we want to pay attention because you see the stock falling in after-hours trading. first quarter revenue, if you took the midpoint of that range, it is below the consensus estimate. eps for this quarter also missing the mark. lisa: the issue also is the forecast. the first quarter is on the lower end of estimates. how important context is much the chip stocks all caps clapboard the end of 2018. chip stocksmuch the

all got clobbered at the end of 2018. scarlet: let's bring back manager aaron dunn and gina martin adams of bloomberg intelligence. how do you beat this results and what you take away in terms of giving you a sense on how the rest of the tech sector is positioned? >> having texas was one of the first companies to really call out the inventory correction late last year. i think it's going to be a highly watched earnings report. they are a recently diversified company, so i think the fact that they issued weaker than expected guidance -- granted, the stocks have been down substantially -- it's probably not great for the group. we will see what they say on the call behind the reasons for that. last quarter, it was inventory

correction. maybe we are not completely through that. weaknessis fundamental overall, but we know global electronics demand has been weaker triggered by china, so this should not come as a complete surprise to the market. joe: i noticed the nasdaq underperforming today and some of the big tech stocks in the red -- facebook, netflix among them. where our expectations and what is the positioning like for these big names going into their earnings? a i think it is really company by company and industry by industry question. you hit the nail on the head talking about how this is a group that has been completely exposed to, the most china specifically and, clearly, investors are terrified about what is going on in china on top of this inventory correction. you have the lowest expectation in semiconductors of all the groups, but facebook and google and netflix also went through their own adjustments to expectations exposed to

china really starting in the summer of last year and that was more with respect to subscriber growth and broader spending. facebook, for example, is the poster child in the index of a tremendous amount of money being spent on security and the operating expenses of this company growing very rapidly, pressure onnward operating forecasts for the company going forward. overall, tech has been one of the sectors that lead to reduction in expectations on the s&p, so i would say that is a sector where expectations are low. also the only sector expected to produce an earnings recession over the next couple of quarters and four consecutive quarters of revenue decline, so we are already expecting this to be the weakest component. lisa: one thing i'm looking at is the geographic composition of revenue and some of these big tech companies. texas instruments, at least at the end of 2017, which was a

while back, had almost 15% in asia. how much do you pay attention to that kind of mix? i think it is absolutely vital. we always look at where the growth is being driven, and asia is obviously the big growth driver for a lot of industries. the tech sector is a bellwether for that as well, given the growth of the smartphone market in asia driving global handset volumes. it is extremely important, and it's extremely important for a lot of markets because that is where growth is being driven globally and the rest of the developed markets have been relatively benign, flat to modestly higher. scarlet: which companies are the best exposed, in the best position to not get struck down by the weakening in china but that have a better mix geographically? >> we are really looking for

good opportunities for strong businesses that maybe will not be as exposed to asia or more exposed to maybe a more stable market like the u.s. is one weductors really like in the semi space. we expect auto content to grow and when you talk about the semi ing, this on gett top of autoexposure is a double negative. them to grow volumes greater than auto growth. we like that structural component of the business. joe: from an external risk standpoint, is traded on the threats of a trade war only discussions going awry the number one concern out there right now? gina: i think it's one of the bigger concerns. i think it is starting to get overwhelmed by decelerating

global growth. while trade may have kicked off the deceleration in global started as is this an operating margin or gross margin question has become more -- what does the revenue outlook look like? what would growth in europe look like? is china doing enough to create a little bit of a bounce back in growth? while trade is perhaps the initiator of the weakness, i think the discussion has gotten a lot more brought over the course of the last x months. it's a question of how much can we grow and how much does the to. slowdown in response this environment and how much does the u.s. restrict capital spending because they do not are? hat the outcomes trade probably kick it off is my short answer to the question, and now it has become a little bit broader. scarlet: it's an open-ended

question with an answer that cannot be answered at the moment. thank you for joining us. i just want to recap texas instruments' results. we had seen it fall in after-hours trading after the chip maker gave a forecast for revenue for this quarter that missed the average analyst estimate. the first quarter eps also shy of what analysts had been anticipated, at the low-end, i should say, of the forecast. we also ought to mention lam research. it is a mixed bag for chip companies or chip manufacturer companies. , which is a client intel -- or i should say intel is one of the biggest customers. lam beating the highest analyst estimates. that does it for the closing

bell and for me. look at president trump's recognition of a new leader in venezuela -- next, we look at president trump's recognition of a new leader in venezuela. this is bloomberg. ♪

lisa: live from bloomberg world , here'sters in new york a snapshot of how u.s. stocks closed today. upmanaged to end the day across the board given that we did see earnings strength.

a litmus test for semiconductors. texas instruments gaining slightly after reporting results amid u.s.-china trade concerns. woes.treet's watching 10 the house financial services committee's democratic members embracing a different agenda. we speak to a republican member of the committee ahead. and president trump recognized and opposition leader as leader of venezuela as protesters take to the streets to protest maduro's regime. >> texas instruments earnings are out. overall first-quarter revenue is projected to come in at about $3.48 billion. the average analyst estimate was for about $3.6 billion. we will run through those numbers and more for the broader chip sector. here to talk more about that, a seniorrg intelligence

semiconductor analyst. i'm going through the earnings. we were sort of expecting a down quarter. there were nose oppresses on that front, but what do you see from numbers so far about not only what is going on with texas instruments but with the ? dustry as a whole >> i think better than feared is what we can characterize from the numbers thus far. i think the numbers were slightly lower. i think this was widely anticipated, but how they characterize the picture for the week made -- for the remainder of the year remains to be seen. miss just buy a little bit indicates that perhaps the demand is not falling off a cliff as badly as one would have feared. does not have too much exposure to the consumer electronics space, to the mobile phone space, so it is a better

indicator of auto and industrial demand. again, all in, better than feared. how they paint the picture for the remainder of the year remains to be seen, but so far, in line with lowered expectations. mentioned the benefit of not being exposed as much to the consumer segment. when it comes to other things like the automotive sector and the secular story of more and more chips being in cars and more and more chips being in other pieces of industrial equipment, are the blips we see now indicative of that slowing down, or is it like this is just the economy? anand: that is a fantastic question. in our previews, we feared auto units have been declining with chinese units affecting unit sales. one of the things chinese

analysts tend to do is cut back on the r&d of some of the more advanced electronics. will that slowdown the effect of long-term chip content growth within the car? that has been a prolific driver for chipmakers, but in the grand scheme of things, if we look at , a industry as a whole little bit more than a third is handheld devices, phones. autozone industrials combine to make up less than 20% of the space. you've got a lot of the growth there, but the movement in the handheld devices still disproportionately affects semi. apple was the perfect bellwether. lisa: i'm wondering if texas instruments is showing a similar trend. x you cannot escape that big of

a customer, that big of an toact, and if that continues remain as much as size remains to be seen, but remember, semiconductors move pretty hard in the last, so relative to that, how to q and what you -- 1q shape up for the big questions. lisa: coming up, it's a new day on the house financial services committee as wall street is getting ready to feel some woes. we will hear from a member of the committee what it feels like being in the minority now. next. this is bloomberg. ♪

romain: we want to get use of breaking news right now, or

motor company releasing earnings right now. the fourth quarter missing analyst estimates. we have a loss in the quarter. analysts were expecting net income and are a much of that to deeper deficit overseas and a loss on its pension fund. we will have more detail on that later in the show. lisa: this is just the second quarterly loss for has posted on ap basissis -- a ga since 2009. joe: wall street getting ready for a new financial services committee. we have a member of that committee who now finds himself in the minority. >> were joined by a republican member of the house financial services committee. i want to talk about the new landscape of the house financial services committee, but the back and forth between speaker pelosi

and president trump today -- would just got word from president trump himself after bigger pelosi said she would not allow the speech to happen on tuesday night. he said they are going to do something "in the alternative." word on what that might be or where we find ourselves now? >> as you know, the speaker used the excuse first that there was not enough security folks around for thee the president speech. now she is just using her power to sort of in-your-face to the president that she is not going to let him in the building. the president still has the power to do that. i know there has been an offer from the senate to come to the chamber to do it. if he does it out in d.c. or

another great setting, that is up to him, but by constitution, he is supposed to give the people of this country the state of the union. >> technically, couldn't he show up on tuesday night? i mean, he's the president. he cannot speak on the house floor? wheres the point where at that is an actual logical question. >> he can if he wants to go against the will of the speaker. that may be what he still does. i don't know. we will see what his thought process is on this, how he will react, what kind of alternative plan he has in place. pelosi is becoming about as petty as you could possibly be in this situation, keeping the president from doing his constitutional duty which is to talk to the american people and give us a state of the union at this point in time -- it has been done for over 100 years, and most of the time in the

house chamber. this is really petty, really on her really silly part. >> if you were a democrat, you would say president trump is petty. republican, you say speaker pelosi is petty. i don't care what party you are in, but the business community what is goingand on right now. how -- when will this end? >> it has gone from the realm of policy to politics now. out theately, policy is window and it has become a political battle between the speaker and president. i truly believe if it was up to chuck schumer and the president, this would have been settled

over christmas. i think they would have gotten run a table and not this out. but policy is being pulled to the left of the table by what i called new progresses and we had the table wagging the dog -- we have the tail wagging the dog. president trump has thrown plan andr plan on the table close he has literally walked away from the table a number of times. you cannot negotiate with yourself. at some point, in order to get this resolved, you have to have people at the table. they don't even have an alternative plan. they refuse to come to the table and negotiate. i do not see this stopping until there is an outcry from the american people that puts pressure on the legislators to come to the table and start working with the president. he put a plan out there that i will tell you to be quite honest membersre a number of of my conference that swallowed pretty hard to accept. i'm not saying they would not have, but it gives a number of

them heartburn. he has already stepped toward them considerably from where we were as a conference. that being said, we still have got nothing back from pelosi or so wer as an alternative, have no place to go except sit there and wait until they come around, so i cannot give you a good estimate of when that will be, but i think when the american people get fed up with this and start calling and putting pressure on congress or there is a situation that arises in the country because of the is,down that forces -- this to me, the point of the steer that could tip the balance. >> we have about a minute left in terms of the new landscape on the house financial services committee, chairman maxine waters has the gavel, democrats had the gavel. will there be any type of bipartisanship on this committee? >> well, we are hopeful. she sort of reached out and said she will try to do that, but in the second breath, she said if

you do not agree with what i'm going to do, i have the gavel. i think that's the words she used at one of her speeches. maxine showshich up. if she is someone who wants to work with us, we are ready to work with her. she and the chairman at the time in december got together on jobs act 3.0. if she brings a built up, i'm sure we would be willing to support all of it. >> we appreciate you coming in. the houseer of financial services committee, now in the minority on a fascinating day here in washington, d.c., between speaker pelosi and president trump. lisa: thank you very much. great interview. i just want to read a rate the news on ford. lossthe second quarterly ford has posted on a gaap basis

since early 2009. posted a net loss of $116,000. this is bloomberg. ♪ loss ford has posted ononford has pon i am a family man.

i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome.

mark: i am mark crumpton was news.ergs first word and apparent casualty of the partial government shutdown, president trump's state of the union address. today, speaker nancy pelosi sent a letter to the president officially postponing the speech until the government is fully reopened. not pass thei will required measure for the president to give the nationally broadcast speech from the house floor. pelosi acted just hours after the president notified her he was planning to deliver the speech next tuesday in line with her original invitation. trump'scohan, president former lawyer and fixer, has postponed his testimony to

congress, citing concerns for his family's safety. his lawyer and spokesman says his emily including his wife, children, and in-laws encouraged him to postpone the appearance after calls by mr. trump and his lawyer rudy giuliani to investigate michael cohen's father-in-law. he was testified -- set to testify in a public hearing february 7. today, the white house and the president responded to claims that michael cohen feels threatened. >> i would say he's been threatened by the truth. he's only been threatened by the truth. he doesn't want to do that probably for me or other of his clients. he has other clients also, i assume. he doesn't want to tell the truth for me or other of his clients. to nine pleaded guilty felonies and is due to turn himself in in march to serve a three-year prison sentence. the president has recognized the interim president of venezuela. this came minutes after the

opposition leader declared himself the head of state. he was the president of venezuela's national assembly, which the ruling president does not recognize. he invoked a constitutional amendment that allows the head of the legislature to lead a caretaker government until new elections can be held. opposition supporters continued marching in the capital of caracas. protests turned violent in some places. protesters fought with security forces, who fired dozens of tear gas canisters in the eastern part of the city. the risk of a no deal brexit appeals -- appears to be receding senior officials in. the french and german governments said they would be open to extending the march 29 deadline. momentum for delays building in the u.k. parliament. if the u.k. cannot agree to a deal by the deadline, the country will leave the eu in a disorderly split. british authorities warned that will risk a recession and a hit to the pound of as much as 25%. global news 24 hours a day

on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. lisa: thank you so much. /are falling about 2% in after-hours trading. fourth-quarterr earnings, including a net loss million. david westin, the host of balance of power and daybreak americas joins us with a special guest to break down the carmaker's latest earnings. reporter: we are joined by the chief financial officer of the ford motor company. welcome. good to have you with us. you came in right on your adjusted earnings-per-share. you actually beat for the quarter on your revenues, but there was a lot that your boss says he's not happy with. let's start with the happy part. what did you point out with the positive signs?

>> the first thing i would say is the revenue grew both in the year.r and the full that was on the back of a strong product mix and favorable net pricing in many parts of the business. within regions, north america clearly is the standout and continues to be quite healthy, six. 6% in the quarter, nearly 8% for the year. the other stand's ford credit. it was up 9% on earnings for the quarter with the best full-year results in eight years. reporter: you say up in the revenue, top line. were you successful in delivering that to the bottom line? we were down on the year-over-year basis, and it has been that way through much of the year. that was driven by two parts of the business that we have been talking about for all year, which is china and secondarily, europe. and the case of china, we have seen issues primarily that or forward specific. ford specific.

but we understand what the issues are and what we need to do and we are addressing them quickly. in the case of europe, we announced early in january the start of a process to lead to the redesign and restructuring long-term. reporter: last quarter, we talked about china and the fact that you brought in new leadership because you had problems with the operations. how is that leadership doing, and when are we going to start to see the results in china for ford? >> we are already seeing green shoots from the efforts focused on dealer engagement, inventory levels, we will be moving very aggressively on the product front. we already launched a new focus, a new escort, a new small suv that we are starting to ship as we speak. that will help coming later in the year. is veryortantly, he focused on improving the cost structure and making the products more china tailored, if you will. certainly working on the relationship are very important

in the region. reporter: green shoots. will we see the results in your bottom line, calendar year 2019? >> we expect try not, and north --rica, which were all china, europe, and north america were down, but they will be driven by the same regions. reporter: let's talk about europe. the head of europe has said there will be structural changes. jim hackett says the part of the restructuring going on. when will we have a sense of what is going on in europe? >> middle of the year. we started the process, as i mentioned. we would expect the process to conclude around the middle of the year. at that point in time, we would be prepared to provide specifics in terms of what we are going to do, what the opportunities are, and the restructuring charges and cash effects. reporter: you also announced recently the beginnings of a joint venture with volkswagen. will we see the results of that

in fort operations before the end of 2019? >> no, and as far as joint ventures, think of it as projects. it makes sense for vw and forward. not any exchange of equity or anything of that store -- sort. we will start with commercial vehicles and europe, and global midsized pickups. the opportunity will start in the 22, 2023 timeframe. reporter: the ceo is taking a hard look at the business to turn it around. he said he wanted to study it and make the right decisions. for investors, can you say we have seen the worst of it? will it get better here? >> we certainly see 2018 as likely to be the trough and the opportunity to improve from this point forward. putting excited -- aside external conditions, that's the expectation. reporter: what are your thoughts on electric vehicles and autonomous vehicles?

>> we have about $11 billion we are spending through 2022. a very active program. we also have $4 billion we have identified we are investing in autonomous vehicles over a four-year or five-year. -- period. we had a business model that was well received in miami and it changed some minds. is the europe strategy 2019, or are you considering advancing some things, particularly on the cost-cutting side? -- i know you are negotiating to reduce the salaries. >> that's a great question. we actually have accelerated the redesign and restructuring of the business, concentrating in 2019, 2020. most of what we have talked about will take place in those periods. you will be hearing more things from us around europe around the

redesign of the business. reporter: and how vulnerable are you to the geopolitical risk? whether it's trade with china, brexit, all the uncertainty, how vulnerable are you and how could it affect your results? >> the nature of our business is we are always exposed to was happening in the external environment. returns, it was the commodities, exchanges. that's always a part of the business we have to deal with and mitigate. we have to deal with additional iniffs impacts possible 2019, and certainly concerned about brexit and washington. we are watching closely. reporter: finally, how is your balance sheet, the cash flow? can you afford what you need to do? how is the credit situation? strong.alance sheet is we had $23 billion of cash above billion.t of $20

in great shape in terms of cash and liquidity. we have to improve operating performance of the business. muchter: thank you very for joining us. bob shanks, the chief financial officer for the ford motor company. >> thank you. that is david westin. coming up, the siemens ceo and why he is sticking to the company. that's next. this is bloomberg. ♪

the siemens ceo joe kaeser is pushing to gain european trust approval for a planned merger.

the deal is now in jeopardy. we spoke with francine lacqua at davos. manye impact of brexit is fold. i think that the biggest impact of brexit is that this, once it happens, it will never be back. this is going to be a historical decision, whether or not the u.k. is going to be part of europe or not. the other area is people come and go. then policies might be different. but if the u.k. leaves europe, i think it will be for good. i believe this is the single biggest impacts of all time in europe. reporter: it looks increasingly likely the merger with ahlstrom will fail. is that a fair assessment? >> i don't know. i don't know, but it is what it is. i am trying to be a realistic

person. with theeen trying globalto create a champion for the european base. by doing that, it was not about making even more money. by doing that, this will be for the customers in the long term, because innovation will be higher, the pace of productivity will be better, and by that, we can reduce cost. reporter: where did things go wrong? like thetalk almost merger didn't happen. my hypothesis is we are going to make this work. everybody and being constructive to make it work. that's a priority. lisa: that was francine lacqua peaking -- speaking with the siemens ceo joe kaeser. time for smart charts. reporter: thank you.

keller, from david sierra l5 researcher thank you for taking the time and happy new year. this is your first time on paired lots. volatility last year. we have volatility again for a talk to us about the s&p 500 chart. the most difficult and challenging market environment is a bear market rally. the primary trend is down, and you have a small series of higher highs and higher lows that goes kinder -- countertrend because of the fear of missing out is palpable. so much fomo. if you look at advancers decliners in terms of what was participating, light in this period, then really accelerated. now all of a sudden we are approaching the 50 day moving average. we have broken above it potentially at a false breakout. then above the trendline in previous lows. that tells me this is fitting

into a downtrend channel. i would expect the next move to be lower rather than higher. reporter: we were looking at a chart not so long ago, the 50 day moving average. does not seem like it will change anytime soon. you never know. what do you make of the rsi? >> that is one of the great tools to measure momentum. in a bullish market environment like the second half of 2018, the entire rsi moves up. you fluctuate from 70 to 80 on the top down to maybe 40. the low in june, it hates 40 and comes back up. the whole thing change when the markets came back to the 200 day moving average. down.ole rsi moved we never get back above 60 p that's the mark of a bearish environment. what is key is we have broken back up to the 60 level. , another it's funny

guest is saying that 60 is the new 70. if you had to guess very quickly before we look at a sector under pressure, in terms of potential decline on the near uptrend, where do you think it goes? >> i think that is the real decision point. i think the chance of us going meaningfully higher is minimal. i think meaningfully lower is strong. i think the chance of us backing in and filling in the range is significant. there, you can see how the market behaves as we approach lows. either we slow down, start to seeing somebody in, or we break down stocks like google break below 1000 which would be a catalyst to go lower. reporter: now let's take a look at technology and see what's happening here. >> one of the more timely sectors in my view is technology. technology has underperformed in the last couple of months as the markets rolled over. tech has not been a place to be overall. groups like semi conductors have been some of the weaker places. have a 13 andwe

34 week moving average. we are looking at a long-term weekly chart. this is one of the long-term trend gauges i follow. the entire pattern has rolled over. the moving averages have rolled over and we are now below two downward sloping moving averages. we are now approaching the trendline from below. thinking of a downtrend channel similar to what we saw with the s&p 500 index, we are at the point from a tactical perspective to expect a bit of a selloff and return to the lower end of the channel. ae weekly which is also long-term trend measure remains negative. reporter: you don't like stock, you don't like tech let's take a look at gold, which you like. >> in terms of one place to park, where do you go? gold is one of those charts that people love to not like because it is always frustrating. it is so uncorrelated to stocks. at a time when you see potential weakness, it could be an interesting place to be. look at this daily chart with

the lows and how they connect to the trendline. it's almost the inverse of what we saw with the s&p. it is pulled back to a point of short-term wickedness -- weakness. this is a traditional japanese trend chart technique. we are above the cloud, a bullish confirmation. then look at the rsi. we talked about with the s&p 500 index the measure of momentum, and here it is overbought. on pullbacks and this rally, you can see the rsi has gotten down to about 40. right now, i would like the rsi to hit about 40 and that is when it might be good to get back into gold. reporter: david keller of sierra alpha research, thank you. cautious on stocks and technology, but you like old. back to you. lisa: thank you, abigail doolittle. coming up, venezuelans are taking to the streets in the largest demonstration in over a year. why president trump had something to say about it. from new york, this is bloomberg. ♪

>> venezuelans took to the streets today fighting for regime change. maduro is under pressure and an increasing number of world leaders are against him. in a major rebuke, president trump recognize the opposition leader juan guaido as the interim president, while brazilian president bolsonaro defended his anticorruption. he said he did not want to up like venezuela. >> the aim of scudding -- cutting state presence is to eliminate corruption. many people over the decades are used to being clients of the state. even the social programs have not reduced poverty. the concern was to get as many votes as possible. we have to confront this. we have no other alternative. we have to do well by brazil, otherwise the left will get back in. it could even come close to the venezuelan regime.

>> for more on what's going down in venezuela, we want to bring in from caracas, andrew. thank you for joining us. clarify something for me. what is the claim that juan guaido has to be the president that would be recognized internationally? >> there is a clause in venezuela's charter that would allow the president of the national assembly to call for this step. he would be voted in by his colleagues to act as the head of the caretaker government until new elections can be called. the opposition says maduro is an illegitimate president because last year they boycotted him saying it was fraught and they did not have a spare chance. joe: the international community is backing him, but what about the military? >> for the moment, it is a big question mark. we had a tweet from the defense

minister saying they stand behind maduro and they don't recognize and impose government, but they have not been seen publicly yet. we are waiting to see if things will change. in the coming. hours. . we have seen national guardsmen kind of parole and around the country. as far as a big figure coming thing, weying one have not seen it. lisa: president trump threw his support behind juan guaido today. does that help or hurt his cause among the populists in venezuela? >> it certainly help some of the sense that he's getting bigger name recognition and -- abroad. people can say, the u.s. and other countries have recognized me as the rightful leader, but it could put him in physical danger. venezuelan authorities have exiled some authorities. it could act against him. thatwe saw today

venezuelan bonds, which have been defaulted, have been railing pretty significantly. about could encapsulate this moment, what is it that feels different about this moment, from the perspective of investors? >> i think you have a situation in which there hasn't been major protests industry in over a year. . the opposition has been very fractured. there is a sense also that up until a few weeks ago, no one was talking about politics. they said it's a bad situation, but we did not see things changing. suddenly the opposition congress, which doesn't have any real powers because the maduro government neutered them a year ago, they proclaimed a new leader, this 35-year-old congressman from the coast, and very quickly it seems to galvanize everyone. people were talking about politics again today. we saw tens of thousands out in caracas as he was sworn in and

taken the oath as president. very quickly things have changed and investors are picking up on that. they're hoping it brings big change in terms of who is sitting in the presidential palace. romaine: do we have any sense of how much of the election of bolsonaro in brazil may have contributed to this abrupt change? reporter: i think the election, when i speak to analysts abroad, it ratchets up the pressure on maduro. remember that the former allydent was a very close of the late hugo chavez. someone is coming out to say they actually want regime change in venezuela, being the biggest neighbor and biggest powerbrokers in the region, that makes it even. lisa: thank you. we appreciate the insight. that's all for "what'd you miss?" "bloomberg technology" is up next in the u.s.

joe: have a great evening. this is bloomberg. ♪

in sanselina wang francisco and this is "bloomberg technology." coming up, tesla shares stumbled the carmaker announces it is causing back on productions of the model x. will profitability once again come under pressure for the company? plus, uber makes a splash at the world economic forum in davos, giving new details about the self-driving car units. we will bring you the highlights.