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Futures climb on IBM earnings report, stimulus hopes

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U.S. stock index futures rose on Tuesday after a better-than-expected quarterly profit from IBM and on hopes for more domestic stimulus to prop up an economy reeling from the COVID-19 pandemic.

International Business Machines Corp jumped 5.3% premarket after it signaled higher demand in its cloud computing business, as large corporations accelerate their digital shift.

Advisers to President Donald Trump and congressional Democrats were set to discuss the next steps in responding to the coronavirus crisis on Tuesday, with congressional Republicans saying they were working on a $1 trillion relief bill. Also lifting the mood, European Union leaders agreed on a massive coronavirus relief program overnight.

The S&P 500 closed higher for the year and the Nasdaq notched a record closing high on Monday after promising early data from trials of three potential vaccines and a boost from high-flying companies including Amazon.com Inc (

 

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