The Wall Street stock exchange is closed today in observance of Martin Luther King Day. Trading will resume as usual on January 17th. Investors are already anticipating upcoming appointments, both for central banks and for large multinational corporations' quarterly reports. The most intriguing accounts are those of Morgan Stanley and Goldman Sachs, which will be released tomorrow.

On the macroeconomic front, Wednesday will be a pivotal day in the United States, with three key data releases: the producer price index, industrial production, and retail sales.

In the coming days, the interventions of a number of policymakers and central bankers at the World Economic Forum's annual meeting in Davos will be scrutinized. Meanwhile, according to a WEF poll, two-thirds of leading private and public sector economists expect a global recession in 2023. Around 18% believe a global recession is "extremely likely," which is more than double the previous survey conducted in September 2022, and only one-third believe it is unlikely this year.

«The current high inflation, low growth, high debt, and high fragmentation reduce the incentives for investment needed to return to growth and raise living standards for the world's most vulnerable,» said Saadia Zahidi, administrator of the World Economic Forum.

According to the International Monetary Fund, fragmentation could cost the global economy up to 7% of GDP.