REUTERS: Wall Street was set to open lower on Monday after a strong rally last week, with investors bracing for an expected slide in quarterly earnings and signs of the lingering impact of the coronavirus outbreak on Corporate America.
"We're bracing for one of the worst earnings seasons in recent history," said Jesse Cohen, senior analyst at financial markets platform Investing.com. "It's becoming clear that reaching the virus crescendo does not automatically translate into a timeline for when an economy will re-open," said Marios Hadjikyriacos, investment analyst at online broker XM in Cyprus.
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