Overall, markets are standing still, waiting for the next positive signal. In an atmosphere where existential questions about inflation and key interest rates are returning, the light will come from the vaccination and the stimulus plan of the new American president Joe Biden.

At the sectoral level, values that are discounted or presumed to be discounted keep the favors of investors. The Automobile sector worked well yesterday. But do you know the two sectors that signed yesterday a one-year high? The first is not very difficult to find, since they are Basic Resources. The second is a little less obvious: it is the Media. As for the compartments that signed one-year highs, there are three of them: Listed Real Estate, Utilities and the very defensive and generously valued Food & Beverage sector.

Today's session will be marked by the PMI Flash indexes for the month of February. This survey is conducted among the purchasing managers of a large panel of companies on a country-by-country basis, with a simple question: is the situation better, unchanged or worse than the previous month? It is therefore a very good assessment of the situation in the major economies, which is why it is being closely scrutinized.

This morning, the various European countries presented the PMI indices for February. The manufacturing activity has recovered colors everywhere in Europe by beating each time the consensus of analysts: 55 points against 51.7 expected in France, 60.6 against 56.6 in Germany or even 57.7 against 54.6 according to analysts for the entire euro zone. Unfortunately, the service sector remains in full doubt with a strong contraction in all countries: 43.6 in France, 45.9 in Germany and 44.7 for the euro zone. Despite the relative drop in the number of positive cases observed, health restrictions remain very restrictive.

The February PMI indicators will be released throughout the day around the world. In the United States, January's sales of older homes are also announced.