REUTERS: Wall Street was set to open largely unchanged on Monday after last week's strong gains as investors kept an eye on the economic impact from the coronavirus outbreak and company updates, with people starting to return to work in China.
Analysts expect China's smartphone sales may plunge by as much as 50per cent in the first quarter, as many retail shops remain shuttered for an extended period and companies struggle to restart production. This week, a slew of earnings reports from consumer discretionary companies and U.S. retail sales data could help determine to what extent the coronavirus is hitting consumer demand.
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