Significant bounce may ensue in US market

US STOCK indexes started the year with a whimper but there is reason to believe that Friday's rally is the beginning of a significant bounce as this week promises a new round of quantitative easing and more reports of earnings growth.

Investors are approaching earnings season with caution, wary of the implications of the oil bust and the dollar boom for corporate earnings. Yet these lowered expectations may make it easier for companies to deliver positive surprises.

"We expect fourth quarter earnings per share will surprise b…