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NEW YORK (CNNMoney)
Stocks rose slightly Tuesday, as signs that a deal is taking shape in the fiscal cliff negotiations reassured investors somewhat.
House Speaker John Boehner's suggestion that he was open to including higher tax rates on the wealthiest Americans has been described as "progress" by the White House. President Barack Obama responded to the offer with his own compromise on both tax increases and spending cuts.
Still, investors are hanging on nearly every word uttered by key players in the talks, and sentiment can shift quickly.
The Dow Jones Industrial Average, the S&P 500, and the Nasdaq all gained between 0.1% and 0.4%.
Related: Cerberus to sell gunmaker after massacre
With few major economic or corporate reports on the agenda Tuesday, investors remain focused on Washington.
"There's an overriding belief now that we will get a deal done in 2012," said Peter Boockvar, an equity strategist at Miller Tabak.
Investment bank Jefferies (JEF) reported quarterly profits Tuesday that beat forecasts. Shares rose nearly 2%.
Late Monday, Apple (AAPL, Fortune 500) lost an important ruling when a federal judge denied its request for a permanent ban on 26 Samsung products that Apple charged -- and a jury ruled -- had willfully infringed Apple's patents. However, Apple shares moved up nearly 1%.
In the wake of the massacre in Newtown, Connecticut, gun manufacturers continue to trade lower. Smith & Wesson (SWHC) dropped more than 7%, and Sturm Ruger (RGR) fell nearly 2%.
After the closing bell Tuesday, tech giant Oracle (ORCL, Fortune 500) will report quarterly results.
Fear & Greed Index
European markets were higher in afternoon trading. Meanwhile, Asian markets ended mixed, with Japanese shares continuing to rally on hopes of further economic stimulus following the election victory for Shinzo Abe's Liberal Democratic Party.
The dollar fell against the British pound and the euro, and was little changed versus the Japanese yen.
In other markets, oil and gold prices edged slightly higher.
The yield on the 10-year U.S. Treasury note rose to 1.78%. 
First Published: December 18, 2012: 9:46 AM ET
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