Stocks have slipped back in the States and traders are starting to point the finger at nervousness ahead of the start of earnings season for Q3.

The S&P is now up just 2 points at 1970 while the Dow has given it all back and is up only 17 at 17027. The Nas is now down 11 at 4463.

Alcoa is one of the first big companies on the roster for earnings this week and they report Wednesday.

We then get some of the banks like JPM and BOA reporting week commencing 13th October.

One thing to watch out for in any reports is the mention of the exchange rate and whether it’s played a part in any companies fortunes, good or bad.