Futures retreat as focus turns to corporate earnings

U.S. stock index futures declined more than 1per cent on Monday after a strong rally last week, with investors bracing for the earnings season for further evidence of the coronavirus-led damage to Corporate America.

The S&P 500 had fallen nearly 35per cent from its mid-February record highs, but an unprecedented U.S. fiscal and monetary stimulus and early signs the outbreak could be peaking have helped it recover about 27per cent.The benchmark index ended a holiday-shortened week on Thursday with its biggest weekly percentage gain in more than four decades as the Federal Reserve rolled out trillions of dollars to backstop businesses.

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Asia stocks begin earnings season with declines amid coronavirus uncertaintiesSYDNEY (BLOOMBERG) - Global stocks started the week on the back foot as investors readied for the start of earnings season amid unprecedented uncertainty over the corporate impact of the coronavirus pandemic. Oil prices climbed in volatile trading after a historic deal to cut output.. Read more at straitstimes.com.
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