The outgoing president’s popularity rate has never been so low, at 34%, according to the latest Gallup poll published yesterday. He finds himself at the bottom of the post-war US Presidents' ranking, along with George W. Bush and Jimmy Carter,  just ahead of Harry Truman (32%). Barack Obama left the Oval Office with an approval rating of 59%.

The week will also be marked by the acceleration of the release of annual corporate results, with some emblematic stocks such as Bank of America, Netflix, Rio Tinto, Goldman Sachs, Procter & Gamble, ASML and Intel. The focus will obviously be on the outlook, which will allow us to take the pulse of the economy at a time when investors are hesitating about what to do. Should we remain cautiously defensive? Should we continue the offensive in discounted securities? Cyclical stocks? Company forecasts will provide some answers.

Investors are also looking ahead to the confirmation hearing of Treasury Secretary nominee Janet Yellen. She is due to appear before the Senate Finance Committee this morning, and is widely expected to plead for heavy fiscal stimulus to support the economy.

Data released today includes German inflation in December and new car registrations in the European Union, and the ZEW index of business confidence in Germany.