The indexes all gained more than 1%, thanks in particular to cyclical and technology stocks. The wave of caution that had gripped the stock market last week has tended to recede. That's the problem with these periods of uncertainty: we know it's going up and down, but we don't know by how much. As mentioned yesterday, everyone is waiting for 8:30am and the announcement of January's US inflation to decide whether the rebound will continue or whether it will get deflated. To validate the first hypothesis, inflation must continue to decline for the U.S. central bank to adopt a less aggressive attitude on rates. On the other hand, signals of pressure on prices, which are possible between December and January for seasonal reasons, are likely to frighten financiers. On average, the market expects annual inflation to fall from 6.5% in December to 6.2% in January, but prices to rise by 0.5% over a month. ING points out in passing this morning that these two figures are incompatible because an increase of 0.5% between December and January should translate into an annual inflation of 6.3% or 6.4%. So economists, can't we count anymore?

In the rest of the news, apparently no balloons have been fired in the world sky for at least 24 hours. Tensions on this point remain high between the United States and China. Beijing has accused Washington of flying balloons in Chinese airspace. At least ten in January. According to my information, Brussels is preparing a working group on the subject. The white paper that will come out of it will allow aerial observations to be made from 2027 onwards, with a view to preparing a possible response at the beginning of the next decade. In Japan, Kazuo Ueda, who is 71 years old, will be the new governor of the central bank starting in April. I don't know anything about Japanese banking genealogy, but I noticed that Ueda was not on the list of contenders to succeed Haruhiko Kuroda that had been circulating until last week. This academic has a good reputation, even if he is rumored to owe his place to the evasion of Masayoshi Amamiya, the current deputy governor of the Bank of Japan. On a related note, the Wall Street Journal understands that Joe Biden will announce this week the appointment of current Fed Vice Chair Lael Brainard as head of the Fed's National Economic Council.

To continue on a funnier note, well, funnily enough, I noticed yesterday that Elon Musk appeared in all the suggestions of the MarketScreener Twitter account. I was a bit saddened by this, but I moved on. Apparently, I'm not the only one to have noticed this and a journalist from the American media The Verge also got upset, recalling that the American billionaire had complained a few days ago that his tweets weren't seen enough and that he even fired an engineer for this reason (I didn't check). Apparently, Musk's account has been on a downward slope in terms of popularity since April, with engagement dropping quite a bit. Not being a man to imagine that he could annoy his audience, Elon had a technical problem looked for, estimating that 95% of his tweets were not delivered. His teams having not identified any malfunction, he asked them to look for more. From there, it's only a short step to see a cause and effect relationship with the omnipresence of the boss's tweets in the suggestions of all of us. I guess you could call it ordered freedom of speech. It's really quite reassuring if it's true. The story in a bit more detail here.

New delivery of results today with Coca-Cola, Airbnb, Zoetis, Marriott, Ecolab, GlobalFoundries or Akamai in the United States. For its part, the American Palantir exceeded expectations.

Economic highlights of the day:

The US inflation for January will be presented at 8:30am. All the agenda here. Last night, Japan announced that its GDP grew modestly by 0.2% between Q3 and Q4 2022, less than expected (0.5%).

The dollar drops to 0.9293 EUR. The ounce of gold is trading at 1857 USD. Oil remains firm, with North Sea Brent crude at USD 85.48 per barrel and U.S. light crude WTI at USD 78.97. The yield on 10-year US debt is back down to 3.69%. Bitcoin is sailing around USD 21,800.

In corporate news:

* Boeing - Tata Group-owned Air India will buy 220 planes from Boeing and 250 planes from Airbus for a total of more than $100 billion at list price.

* Ford plans to cut 3,800 engineering and administrative jobs in Europe over the next three years to improve its cost structure and competitiveness in electric vehicles, the automaker announced Tuesday. The stock is up 1% in pre-market trading.

* Tesla adjusted its prices for the fourth time in two months, raising the price of the Model Y Performance and lowering the price of the Model 3 Propulsion.

* Apple is facing difficulties with the transfer of part of its production to India, as the yield in the manufacture of certain components is less than 50%.

* Liberty Global said Monday it has acquired a 4.92% stake in British telecom operator Vodafone, but added that it was not considering a takeover bid for the group.

* Paramount Global is again trying to sell Simon & Schuster after a $2.2 billion deal with Penguin Random House failed last November.

* Walmart will close three of its U.S. technology centers (Austin, Carlsbad and Portland), which will mean the transfer of hundreds of employees if they want to keep their jobs.

* Palantir Technologies announced Monday that it expects to post its first full year in the black this year after better-than-expected fourth-quarter results. The stock jumped 17.7% in pre-market trading.

* Avis Budget Group gained 4.2% in after-hours trading after reporting better-than-expected fourth-quarter results linked to strong demand in the corporate and leisure travel businesses.

* T-Mobile US - Users of the U.S. telecom operator faced a giant nationwide outage Monday.

Analyst recommendations: