Following a January-March rally that marked the US stock market's best quarterly performance in nearly a decade, stocks had been in a holding pattern in April ahead of first-quarter reporting season.
With first-quarter reporting season shifting into high gear, analysts now see S&P 500 companies posting a 2.1 percent year-on-year decline in profits.
Bank of America Co, Morgan Stanley, Netflix Inc, Johnson & Johnson, Textron Inc, Honeywell International Inc, Schlumberger NV and American Express Co are among the closely-watched earnings expected this holiday-shortened week.
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