Wall Street rises after steep selloff, strong results boost IBM

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 and Chipotle Mexican Grill due later in the day.
 

The second-quarter