Stock index futures rose on Tuesday, indicating a rebound from a selloff in the previous session as strong results from IBM encouraged investors worried about macroeconomic uncertainties.
* International Business Machines Corp
* Bank of America, reporting quarterly results early Tuesday, said the performance in underlying businesses continued to be clouded by costs from legacy mortgage issues. The stock rose 1.9 percent to $9.90 before the bell.
* While concerns tied to government debt in the United States and Europe have dominated broader market action and contributed to the S&P's worst week in the last five, the current earnings season has indicated that companies remained in solid shape. Last week, JPMorgan Chase & Co
* S&P 500 futures rose 9.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 64 points and Nasdaq 100 futures gained 16 points.
* Earnings are due from bellwethers Goldman Sachs Group Inc
* Investors also awaited June housing starts data, due at 8:30 a.m. EDT <1230 GMT>. Economists in a Reuters survey forecast a 575,000 annualized rate in June versus 560,000 in May, and a total of 600,000 permits in June, compared with 609,000 in the prior month.
* Two weeks before a final deadline, U.S. President Barack Obama and top lawmakers faced more pressure for a debt deal amid a growing sense that a last-ditch plan taking shape in Congress may be the only way to avoid a devastating U.S. default.
* U.S. stocks dropped on Monday as bank shares bore the brunt of investor frustration over governments' inability to solve debt crises in the United States and Europe.
(Editing by Jeffrey Benkoe)