Investors will closely scrutinize U.S. inflation data, which is under the strict watch of the Federal Reserve. Jefferies projects an annual inflation rate holding steady at 2.7% for December in the U.S. on a headline basis, but up 0.1 percentage point from November to 2.7% on a core basis.

Higher-than-expected inflation could prompt the Federal Reserve to keep interest rates elevated.

These figures will be released in a context of heightened tensions in the United States, due to the ongoing standoff between President Donald Trump and Jerome Powell. The two men are clashing particularly over interest rate policy. In recent days, the situation has escalated into an institutional crisis. The Department of Justice (DOJ) has launched an investigation targeting Powell, focusing on the rising costs of renovations at the Fed's headquarters in Washington. The U.S. president has raised the possibility of "fraud" or "misuse of public funds."

Denouncing what he calls an attempt at political intimidation, Powell has defended the independence of the U.S. central bank, stating that "the threat of criminal prosecution is the result of the Federal Reserve setting interest rates based on its best judgment of what serves the public interest, rather than following the president's preferences."

On the Paris market, construction-related stocks are at the bottom of the CAC 40 this Tuesday, penalized by a Bank of America note. Saint-Gobain (-4.01%) is the worst performer on the benchmark Paris index, closely followed by Eiffage and Vinci. The American bank says it favors "infrastructure groups with exposure to the U.S. and European airports offering positive inflections in their free cash flow."

Elsewhere, Vente-unique.com is up nearly 7% after posting strong annual results for the 2024-2025 fiscal year.

Airbus shares are inching higher after its 2025 business update. The aerospace manufacturer announced the delivery of 793 commercial aircraft to 91 customers worldwide. It recorded 1,000 new gross orders in its Commercial Aircraft division.

In Europe, Orsted is leading the OMX 20 in Copenhagen following a favorable ruling from the U.S. judiciary made official yesterday, allowing the company to proceed with construction on its offshore wind project in the United States.

Across the Atlantic, the fourth-quarter earnings season is about to kick off with results from U.S. banks. On Tuesday, JP Morgan will report its results, followed tomorrow by Bank of America, Citigroup, and Wells Fargo.

By midday, the euro is down 0.03% at $1.1666.