Important economic data this week:
- The kickoff of earnings season this week will give investors a first glimpse of the impact of the coronavirus shutdown on corporate profits—and potentially clues about the outlook for the rest of the year. Big banks including JPMorgan Chase and Bank of America will be among the first companies to open their books, WSJ noted.
- Wednesday: U.S. retail sales for March are expected to plunge, reflecting the mandatory closure of restaurants, malls and nonessential stores, as well as heightened caution among consumers amid mass layoffs and increasing uncertainty.
- Thursday: U.S. jobless claims have surged, with nearly 17 million Americans filing for unemployment benefits since mid-March. Economists are forecasting another bleak reading for the week ending April 11.