Jan. 21 Premarket Briefing: 10 Things You Should Know (Update 1)

Here are 10 things you should know for Tuesday, Jan. 21:  

1.-- U.S. stock futures were rising Tuesday amid a stream of corporate earnings reports and after China's central bank said it would pump extra liquidity in the financial system.

The Shanghai Composite Index rose 0.9% to close at 2,008.31. Tokyo's Nikkei 225 rose 1% to finish Tuesday's session at 15,795.96.

European stocks were rising in early trading.

2.-- The economic calendar in the U.S. Tuesday is bare.

3.-- U.S. stocks on Friday closed mixed, weighed down by a round of quarterly reports that came in shy of expectations.

The S&P 500 fell 0.39% to close at 1,838.70 while the Dow Jones Industrial Average rose 0.25% to 16,458.56. The Nasdaq lost 0.5% on Friday to close at 4,197.58. The S&P 500 dipped 0.2% for the week, while the Dow and Nasdaq climbed 0.13% and 0.55%, respectively.

Markets in the U.S. were closed Monday for the Market Luther King Jr. holiday.

4.-- China's Lenovo is in talks to buy IBM's (IBMlow-end server business, The Wall Street Journal reported, citing a person familiar with the matter.

The talks revive negotiations that fell apart last year over valuation, according to the Journal.

Lenovo said in a statement to the Hong Kong Stock Exchange Tuesday that it was in preliminary talks about a potential acquisition, without saying whether the talks involved the server business. 

For Lenovo, which is a minor player in servers, a deal with IBM would create a new source of growth amid weak global demand for desktop and laptop PCs, the Journal noted.

5.-- IBM is forecast by Wall Street to report after Tuesday's closing bell fourth-quarter earnings of $5.99 a share on revenue of $28.25 billion.

IBM said last week it plans to invest more than $1.2 billion to expand its cloud services operations.

IBM shares rose 0.3% to $190.60 in premarket trading Tuesday.

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