Across the Atlantic, where earnings season is in full swing, indices moved in mixed fashion. The Dow Jones slipped 0.75% around 5:45 p.m., weighed down by unfavorable news for the healthcare sector. A proposal to limit the increase in Medicare Advantage payments to just 0.09% triggered a sharp decline in the segment, as investors feared margin pressure for insurers starting in 2027. UnitedHealth tumbled nearly 20%.

Boeing (+1.61%) announced on Tuesday that it had returned to profitability in the fourth quarter, after a loss in the previous quarter, driven by the sale of its navigation software business, increased production rates, and stronger aircraft deliveries. GM and UPS also reported solid results.

Quarterly results from Meta, Microsoft, and Tesla are expected on Wednesday, while in Paris, LVMH's earnings will be closely scrutinized this evening after the market closes.

In Europe, Puma (+9.20%) was particularly sought after. Chinese sportswear giant Anta Sports is set to become the largest shareholder in the German group, acquiring a 29.06% stake in a USD 1.8 billion deal. The transaction, conducted entirely in cash, involves 43.01 million shares sold by the Pinault family, the reference shareholder via the Artémis holding company.

This wave of earnings publications has temporarily pushed concerns over trade and geopolitical tensions to the background.

The Fed in the Spotlight

 The Federal Reserve, widely expected to hold rates steady at its first monetary policy decision of 2026 on Wednesday night, is also drawing investor attention. "The U.S. job market is stabilizing, which justifies a Fed pause, especially as the growing politicization of its decisions is putting upward pressure on long-term rates," says Kevin Thozet, a member of the investment committee at Carmignac. He also notes that "after 75 basis points of cuts since September 2025, the U.S. central bank appears to be entering a new wait-and-see phase, reminiscent of the sequence observed in 2024."

On the data front, U.S. consumer confidence deteriorated in January, according to the Conference Board's monthly survey. The index came in at 84.5, down from 94.2 in December (revised from 89.1), while consensus expectations were for 90.9.

On the currency front, the British pound posted a sharp gain against the dollar (+0.63%), trading around USD 1.3761 after hitting an intraday high of USD 1.3792, a level not seen since October 2021.

Brent crude (+1.40%) rose sharply, as did its American counterpart, WTI (+1.47%).