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 Reuters 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. The Dow Jones Industrial Average rose 100 points, or 0.76%, to finish Monday at 13,235.
General Electric ( GE) reportedly is close to reaching a deal to buy Italian aerospace supplier Avio 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, Reuters reported.
Apple ( AAPL) was denied a request from a U.S. judge for a permanent injunction against Samsung's smartphones.
Oracle ( ORCL), 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. Jefferies ( JEF) 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 ( KCG) board was split between two competing buyout offers late Monday from suitors Getco and Virtu Financial, sources involved in the talks told Reuters.
Massachusetts has settled a $5 million fine with Morgan Stanley ( MS) for what it deemed to be improper research tied to the initial public offering of Facebook ( FB).
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 Journal reported. "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 >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.