Wall Street gains as upbeat corporate forecasts boost sentiment

IBM up as it sees higher full-year sales; Dow Inc jumps after beating Q3 estimates; Tesla expects to miss vehicle delivery target this year; AT&T raises annual profit forecast, Verizon gains

Wall Street's main indexes jumped on Thursday as upbeat results and forecasts from IBM, AT&T and Dow Inc brought back cheer to the markets that were briefly taken aback by the political turmoil in the United Kingdom.

IBM Corp shares gained 4.3% after the IT services company beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets.

Fellow blue-chip stock Verizon Communications Inc rose 1.6% after peer AT&T Inc jumped 8.2% upon raising its annual profit forecast.

Both the companies lifted up the S&P 500 communication services sector index by 1.8% to lead gains among the 11