) -- U.S. stock futures were pointing to a higher open for Wall Street on Tuesday following reports that President Obama made a new offer to avert the so-called fiscal cliff, moving closer to certain Republican positions.

A report from


said Obama made a counter-offer to Republicans that included a major change in his position on tax hikes for the rich.

European shares were rising on news that U.S. lawmakers were getting closer to reaching a budget deal. Asian stocks ended Tuesday's session mostly higher. Japan's Nikkei 225 rose 1% to 9,923.01.

The economic calendar in the U.S. Tuesday includes the third-quarter current account deficit. The report will be issued at 8:30 a.m. EST. Economists surveyed by


forecast a $103.4 billion deficit compared with a deficit of $117.4 billion in the second quarter.

U.S. stocks

on Monday ended with gains as investors cheered signs that Washington officials were making noteworthy progress in their efforts to try to avert the so-called fiscal cliff.


Dow Jones Industrial Average

rose 100 points, or 0.76%, to finish Monday at 13,235.

General Electric

(GE) - Get General Electric Company (GE) Report

reportedly is close to reaching a deal to buy Italian aerospace supplier


for about $4 billion.

GE said Monday it expects revenue to be flat to up 5% in 2013, though CEO Jeff Immelt said worries over the so-called fiscal cliff hurt demand in the closing months of 2012,




(AAPL) - Get Apple Inc. (AAPL) Report

was denied a request from a U.S. judge for a permanent injunction against




(ORCL) - Get Oracle Corporation Report

, the software giant, is expected by analysts Tuesday to post fiscal second-quarter earnings of 61 cents a share on revenue of $9.03 billion.


TheStreet Recommends

(JEF) - Get Jefferies Financial Group Inc. Report

is expected by analysts to report fourth-quarter earnings Tuesday of 32 cents a share on revenue of $722.6 million.

Knight Capital Group's


board was split between two competing buyout offers late Monday from suitors



Virtu Financial

, sources involved in the talks told



Massachusetts has settled a $5 million



Morgan Stanley

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for what it deemed to be improper research tied to the initial public offering of


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Cerberus Capital is seeking to sell the company that manufactures a gun used in last week's shooting at Sandy Hook Elementary School in Newtown, Conn., the



"We have determined to immediately engage in a formal process to sell our investment in

Freedom Group

...We believe that this decision allows us to meet our obligations to the investors whose interests we are entrusted to protect without being drawn into the national debate that is more properly pursued by those with the formal charter and public responsibility to do so," Cerberus said in a statement.

-- Written by Joseph Woelfel

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Joseph Woelfel

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