US stock futures are up today, following yesterday’s gains. Dow Jones Industrial Average futures inched up 0.1%, S&P futures increased 0.2%, and Nasdaq futures advanced 0.5%.

Despite fears, the transition of power between Donald Trump and Joe Biden was relatively congenial. Donald Trump did not depart from the Ronald Reagan tradition of leaving a handwritten note for his successor on the Oval Office as a symbol of the handover of power. Joe Biden has confirmed that his predecessor wrote him a letter "of great generosity", the contents of which he will not share until he has had a chance to discuss it with its author. If the author gives him the opportunity, of course.

On financial markets, the arrival of Joe Biden at the helm of the world's leading economy has been hailed, particularly on the Nasdaq, which has soared by 2.51%. Yes, yes, the same Nasdaq that had nosedived when it appeared in early January that the Democrats would control both houses of Congress on the grounds that they would be tougher than the Republicans against the digital oligopolies. Investors are expecting a calmer presidency that is determined to use public spending to stimulate the economy and reduce unemployment in an environment of low interest rates.

We can already cite some of the Biden administration's major orientations for the years to come. First, a greening of the policy, since the new president immediately announced that the United States will return to the Paris climate agreement. It is also clear that Washington will not let up the pressure on Beijing, even if the strategy for doing so should be reviewed. The United States will once again move closer to its historical allies, particularly Europe. Finally, the Biden team intends to improve the fight against the coronavirus, an offensive at the beginning of its mandate that will strengthen the confidence of economic players, and therefore of investors.

Two central banks on the agenda today. After the Bank of Japan, the ECB. In the United States, we have the Philly Fed index, weekly unemployment registrations and housing starts & building permits.