After last Thursday’s stunning jobs report induced rally, US markets look set to open lower in what will likely be another lower than average volume US trading day with minimal economic data and some American investors still away for a long independence day holiday weekend. Futures suggest the Dow Jones will open 30 points lower at 17,038 with the S&P500 expected to open 4 points lower at 1,981 and the Nasdaq 8 points lower at 3,915. This week will officially kick off earnings season for the 2nd quarter of 2014 with the report from Alcoa tomorrow. The aluminium company is expected to earn 12c per share on $5.64bn in revenue; this would be a 42% rise in earnings but a small decline in revenue over the same period last year. The company’s results are inevitably tied to the market for aluminium; the price has been weak this year so it will be important to look for the company’s forecast for the metal’s global demand. Alcoa’ stock is up over 40% in 2014, far outstripping the S&P 500 so at these lofty levels; the company may need to start turning around the declines in revenue to maintain investor’s confidence in the company’s future.