Around the World's Markets: New York

US STOCKS rose yesterday as Qualcomm and Bristol-Myers Squibb beat profit estimates. The Dow Jones rose 132.87 - 1.3 per cent - to a record 10,581.42 .

Stocks may be poised to rise more today. After the market closed International Business Machines said first-quarter profit rose 42 per cent, beating forecasts, on revenue from its business of running other companies' computer networks. IBM earned $1.47bn, or $1.55 a share, compared with $1.04bn, or $1.06 a share, in the year-earlier period.