{"id":132795,"date":"2021-07-20T11:54:12","date_gmt":"2021-07-20T11:54:12","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132795"},"modified":"2021-07-20T11:54:12","modified_gmt":"2021-07-20T11:54:12","slug":"futures-bounce-after-steep-selloff-ibm-gains-on-strong-results","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/futures-bounce-after-steep-selloff-ibm-gains-on-strong-results\/","title":{"rendered":"Futures bounce after steep selloff; IBM gains on strong results"},"content":{"rendered":"

(Reuters) – Futures tracking Wall Street\u2019s main indexes rose on Tuesday, as economically sensitive stocks rebounded following a sharp selloff in the previous session, while shares of IBM jumped after posting strong second-quarter results.<\/p>

FILE PHOTO: A person walks by the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS\/Andrew Kelly<\/figcaption>

Shares of International Business Machines Corp gained 4.0% in premarket trading as brokerages raised their price targets on the stock following strong quarterly growth in the company\u2019s cloud and consulting businesses.<\/p>\n

Focus is now on earnings reports from companies including Netflix Inc, Philip Morris and Chipotle Mexican Grill later in the day.<\/p>\n

The second-quarter reporting season is underway, with 41 of the companies in the S&P 500 having reported. Of those, 90% have beaten consensus estimates, according to Refinitiv data.<\/p>\n

Analysts now see year-on-year S&P 500 earnings growth of 72% for the April to June period, per Refinitiv.<\/p>\n

Wall Street\u2019s main indexes ended sharply lower on Monday, with the blue-chip Dow Jones index logging its worst day in nearly nine months as a surge in Delta variant infections sparked a broad sell-off on fears about renewed COVID-19 shutdowns and a protracted economic recovery.<\/p>\n

Energy stocks Chevron Corp, Schlumberger NV, Occidental Petroleum Corp, ONEOK Inc, Phillips 66 and Halliburton Co rose between 0.8% and 2.7%, as oil prices edged higher after the previous session\u2019s 7% slide. [O\/R]<\/p>\n

Rate-sensitive lenders Bank of America, JPMorgan, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley were up between 0.7% and 1.0%. [US\/]<\/p>\n

At 6:35 a.m. ET, Dow e-minis were up 203 points, or 0.6%, S&P 500 e-minis were up 22.25 points, or 0.52%, and Nasdaq 100 e-minis were up 75.5 points, or 0.52%.<\/p>\n

Shares of cryptocurrency and blockchain-related firms Coinbase Global, Riot Blockchain, Marathon Patent Group and MicroStrategy Inc fall between 1.4% and 2.8% as bitcoin slipped below $30,000.<\/p>\n

Halliburton Co added 2% after it posted a second-straight quarterly profit, as a rebound in crude prices from pandemic-lows buoyed demand for oilfield services.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Futures tracking Wall Street\u2019s main<\/p>\n","protected":false},"author":3,"featured_media":132794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nFutures bounce after steep selloff; IBM gains on strong results - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/futures-bounce-after-steep-selloff-ibm-gains-on-strong-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Futures bounce after steep selloff; IBM gains on strong results - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Futures tracking Wall Street\u2019s main\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/futures-bounce-after-steep-selloff-ibm-gains-on-strong-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-20T11:54:12+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Futures-bounce-after-steep-selloff-IBM-gains-on-strong-results.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/futures-bounce-after-steep-selloff-ibm-gains-on-strong-results\/\",\"url\":\"https:\/\/precoinnews.com\/business\/futures-bounce-after-steep-selloff-ibm-gains-on-strong-results\/\",\"name\":\"Futures bounce after steep selloff; 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