(Bloomberg) — Global stocks began the week on the back foot as investors readied for the start of an earnings season marked by unprecedented uncertainty over the corporate impact of the coronavirus pandemic. Oil pared earlier gains after a historic deal to cut output.Futures on the three main U.S. equity indexes all dropped, while stocks fell in Asia’s main financial centers. Markets across Europe were closed for the Easter holiday. Treasuries were mostly steady in Asia trading. 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 advanced and the euro rose to the highest level since early April. Seventy coronavirus vaccines are in development globally, with three already being tested in human trials, the World Health Organization said.With earnings season kicking off this week, investors will be hoping to get a sense of how bad the hit to global profits could be as the coronavirus upends the world’s economies. 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 TuesdayBank of Canada has a rate decision WednesdayAlso Wednesday, U.S. retail sales are poised to fall in March by the most ever seenChina releases GDP, industrial production and retail sales and jobless figures FridayThese are the main moves in markets:StocksFutures on the S&P 500 Index fell 1.3% as of 8:11 a.m. London time.Nasdaq 100 Index futures dipped 1.4%.The MSCI Asia Pacific Index declined 0.5%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.3% to 1,243.25.The euro gained 0.2% to $1.0961.The British pound climbed 0.5% to $1.2521.The Japanese yen strengthened 0.6% to 107.83 per dollar.The South Korean Won weakened 0.7% to 1,217.82 per dollar.BondsTreasury futures were little changedCommoditiesWest Texas Intermediate crude climbed 1.4% to $23.09 a barrel.Gold weakened 0.3% to $1,690.90 an ounce.Iron ore gained 0.2% to $82.54 per metric ton.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.