(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.U.S. equity futures declined in early Asia trading, while shares retreated in Japan and South Korea. Many markets remained closed for the Easter holiday. The dollar dipped after OPEC+ agreed to cut 9.7 million barrels a day from global crude output — just below the initial plan of 10 million. The yen ticked higher and Australian dollar slipped. Treasuries were little changed. The euro steadied after France, Germany, Italy and Spain reported a slowdown in new coronavirus cases. With earnings season kicking off in earnest this week, investors will be hoping to get a better sense of how bad the hit to global profits could be as the coronavirus upends the world’s economies. Uncertainty is high as to what the coming months will bring with companies having a hard time grasping the situation and predicting the short-term future.Meanwhile, without an effective therapy or a vaccine for the novel coronavirus, the U.S. economy could face 18 months of rolling shutdowns as the outbreak recedes and flares up again, Federal Reserve Bank of Minneapolis President Neel Kashkari said.In focus this week:U.S. banks and financial firms begin reporting first-quarter earnings, led by JPMorgan, Citigroup, Bank of America, BlackRock, Goldman Sachs and Wells Fargo.Bank Indonesia rate decision and briefing Tuesday.South Korea holds parliamentary elections and Bank of Canada has a rate decision Wednesday.Also Wednesday, U.S. retail sales are poised to fall in March by the most ever seenChina releases GDP, industrial production, retail sales and jobless figures FridayThese are the main moves in markets:StocksS&P 500 futures fell 1.1% at 9:09 a.m. in Tokyo.Japan’s Topix Index fell 0.9%.Korea’s Kospi Index slipped 0.5%.CurrenciesThe yen rose 0.1% to 108.33 per dollar.The offshore yuan traded at 7.0507 per dollar.The euro was steady at $1.0935.BondsThe yield on 10-year Treasuries was little changed at 0.72%.CommoditiesWest Texas Intermediate crude rose 3.6% to $23.58 a barrel.Gold fell 0.2% to $1,692 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.