U.S. stocks are about to close out Joe Biden’s era on a high note as the president bids farewell to the White House. The 46th president of the United States is bringing his time at the White House to a close with the S&P 500 up around 54% since he took office on Jan.

"Biden inherited an economy that was flat on its back because of the pandemic, and he's bequeathing an economy that's flying high," said Mark Zandi, chief economist at Moody's Analytics. "Having said that, there are blemishes in the minds of many Americans ... They feel ripped off."

Wall Street will first parse the producer price index for December on Tuesday, followed by the consumer price index on Wednesday.

In our news wrap Monday, President Biden defended his legacy on the world stage during an address at the State Department, the White House proposed export limits on computer chips used in artificial intelligence,

Before the election, Donald Trump pretended he was solely responsible for Wall Street's upswing. That's a problem now that markets are struggling.

U.S. stocks closed out Joe Biden’s era on a high note as the president bids farewell to the White House. The 46th president of the United States is bringing his time at the White House to a close with the S&P 500 up over 55% since he took office on Jan.

The comments represented an initial strike at Fed officials, with whom Trump had a highly contentious relationship during his first term in office.

HSBC strategists led by Max Kettner expect only very shallow drawdowns in the coming months and would use any dips to boost risk asset exposure. They say sentiment and positioning are still flashing a buy signal.

"With an ambitious policy agenda, Trump's first 100 days in office will provide an early indication of his ability to sustain momentum in delivering on his promises," said Seema Shah, chief global strategist at Principal Asset Management. "Significant challenges and heightened uncertainty around the speed and scope of policy implementation remain."

Stocks climbed as President Donald Trump struck a better-than-feared tone on trade and speculation grew that his policies will further boost Corporate America. Bonds continued to unwind the recent surge in yields.

Investors are appraising the likely impact of Trump's orders on stocks on the first trading day after the inauguration.