Futures are appreciably higher this morning, with the Dow looking at a triple digit gain at the open. If markets can hold these levels, the Tuesday/Wednesday trading will erase all of the S&P negative outlook sell off and then some.
Intel (INTC) beat estimates, and forecast higher sales in Europe and Asia for Q2. IBM also issued sales and profit forecasts that suggest a corporate computer systems upgrade cycle is getting underway, following a fallow period during the the recession (See Dollars Flow Back Into Tech).
European bourses were up 2%; Asian markets were up one and half %.