streaming doesnt matter as much on the equipment then as it does your internet connection, like someone with a gtx 560 could stream fine if they had a decent upload speed

ognoah wrote streaming doesnt matter as much on the equipment then as it does your internet connection, like someone with a gtx 560 could stream fine if they had a decent upload speed

That is not exactly true. Streaming requires a decent CPU to stream as well as a decent upload speed. You won't get far if you have a Beast PC and then a crap Upload speed, and the other way around, you can't have a fast upload speed and expect to stream good quality if your hardware specs are not good enough for streaming.
Streaming requires the CPU to encode the video stream and that take some load on the CPU. I would recommend if you could, spend that money on a custom built desktop computer to stream and play games on.
My opinion but i would recommend a Core i7 3770k cpu or i5 3570k. and i don't use AMD, but the AMD FX 9590 or AMD FX 8350 8 core cpu.

My take on Specs for streaming
CPU: Intel Quadcore cpu or higher
AMD 6 core cpu or higher
GPU: at least a DX10 video card. i'd recommend for streaming PC Games, Nvidia GTX 660 or higher. or AMD Radeon HD 7770 or higher.
Upload Speed: A Stable minimum of 3Mbps, unless you are streaming at a bitrate lower than 3000. but i would recommend no less than 3Mbps for streaming. Wifi streaming is not recommended.

Hope this somewhat helps. all this is my own take on what i think is best for streaming. some could say things like, well i could stream on "suchsuch" hardware just fine. Yes, you can stream with lower hardware, just note your quality might not be the best and your pc may have trouble playing higher end games and streaming at the same time.This is just my own opinion, you don't have to follow it.

But OP, Yes you could stream with that laptop.
if playing higher end pc games, it may have some trouble.
you should be fine with streaming 720p at 30fps with the "VeryFast" preset. depending on the game, settings may need to be adjusted.

though, I would recommend a Custom built Desktop pc, if you are serious about streaming.