After a near-on 5% correction of recent highs, US markets have again turned on a dime, this time thanks to the strong jobs gain in September and are looking higher on the open today, the week in which Alcoa symbolically kicks off Q3 earnings season. Futures suggest the Dow Jones will open 58 points higher at 17,067 with the S&P500 expected to open 7 points higher at 1,974 and the Nasdaq 12 points higher at 4,039. Barring some significant flare up in Hong Kong, the attention of US markets is likely to move away from international events and turn inwards to the performance of US corporations throughout the third quarter. Third quarter reporting carries extra weight because of the extreme results of the first and second quarters which swung from very poor to very good; really this quarter will be the first one in which investors can judge the true pace of corporate earnings growth in the US. This week kicks off with earnings from Alcoa, PepsiCo, Yum! Brands, Costco, Family Dollar and Monsanto. Hewlett Packard will split into two companies and separate its PC and printer business from its corporate hardware, software and other units according to the Wall St journal. This is another stage in HP’s multi-year restructuring process to shift focus away from the declining PC market. PC sales have recently had a boost from upgrades thanks to the end of Microsoft’s support for Windows XP so CEO Meg Whitman looks to be taking the opportunity to spin off HPs PC unit while sales look good. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.