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Wall St rises after steep selloff, strong results boost IBM

Published by
Reuters

By Devik Jain (Reuters) – Wall Street’s main indexes rose on Tuesday, as economically sensitive stocks rebounded after a sharp selloff in the previous session, while International Business Machines (IBM) jumped on strong second-quarter results. Shares of the blue-chip technology firm climbed 3.7% as brokerages raised their price targets on the stock following robust growth in the company’s cloud and consulting businesses. Nine of the 11 major S&P 500 sector indexes were trading higher, with the S&P 500 banks index rising 0.7%. Focus is now on earnings reports from companies such as Netflix Inc…

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