Yesterday, data showed that U.S. inflation eased to 1.4% in January. Federal Reserve Chair Jerome Powell said in a speech yesterday that inflation would need to reach 2% or more before it could consider tapering the Fed’s accommodating policies.

Powell also stressed that once pandemic effects were removed, unemployment was closer to 10% than the reported 6.3%. He called for a "society-wide commitment" to reducing unemployment.

Today's session will again be dominated by a wave of corporate results, almost a tidal wave in fact. A good hundred companies capitalizing roughly €5 billion or more are expected to unveil their figures Meanwhile, Joe Biden and Xi Jinping had their first phone conversation. Relations between the two countries are a major issue for the years to come.

Both sides leaked the exchanges and there was no surprise: they talked about the economy, bilateral relations and domestic sovereignty.

Biden also expressed "deep concern" about Beijing's "unfair and coercive" economic practices, according to a White House report.

The two leaders also discussed the Covid-19 pandemic and the "common challenges" of global health security, climate change and human rights.

The relationship between the two powers will undoubtedly shape our world in the years to come, and the battle looks set to be a tough one.

Weekly enrollment in the U.S. unemployment system is the main data due today.