Park set to win South Korean presidential election

SEOUL (Reuters) - The daughter of a former military ruler took a commanding lead in South Korea's presidential election on Wednesday, putting her on track to become the country's first woman head of state.

A win for 60-year old conservative Park Geun-hye would see her return to the presidential palace where she served as her father's first lady in the 1970s, after Park's mother was assassinated by a North Korean-backed gunman.

With more than 70 percent of the votes counted, Park led with 51.6 percent to 48 percent for her left-wing challenger, human rights lawyer Moon Jae-in.

Her raucous, jubilant supporters braved sub-zero temperatures to chant her name and wave South Korean flags outside her house.

An elated Park reached into the crowd to grasp hands.

Park will take office for a mandatory single, five-year term in February and will face an immediate challenge from a hostile North Korea and have to deal with an economy in which annual growth rates have fallen to about 2 percent from an average of 5.5 percent in the past 50 years.

She is unmarried and has no children, saying that her life will be devoted to her country.

The legacy of her father, Park Chung-hee, who ruled for 18 years and transformed the country from the ruins of the 1950-53 Korean War into an industrial power-house still divides Koreans.

For many conservatives, he is South Korea's greatest president and the election of his daughter would vindicate his rule. His opponents dub him a "dictator" who trampled on human rights and stifled dissent.

"I trust her. She will save our country," said Park Hye-sook, 67, who voted in an affluent Seoul district, earlier in the day.

"Her father ... rescued the country," said the housewife and grandmother, who is no relation to the candidate.

For younger people, the main concern is the economy and the creation of well-paid jobs in a country where income inequalities have grown in recent years.

"Now a McDonald's hamburger is over 5,000 Korean won ($4.66) so you can't buy a McDonald's burger with your hourly pay. Life is hard already for our two-member family but if there were kids, it would be much tougher," said Cho Hae-ran, 41, who is married and works at a trading company.

Park has spent 15 years in politics as a leading legislator in the ruling Saenuri party, although her policies are sketchy.

She has a "Happiness Promotion Committee" and her campaign was launched as a "National Happiness Campaign", a slogan she has since changed to "A Prepared Woman President".

She has cited former British Prime Minister Margaret Thatcher, a tough proponent of free markets, as her role model as well as Angela Merkel, the conservative German chancellor who is Europe's most powerful leader.

NEGOTIATE WITH NORTH

One of those who voted on Wednesday was Shin Dong-hyuk, a defector from North Korea who is the only person known to have escaped from a slave labor camp there.

He Tweeted that he was voting "for the first time in my life", although he didn't say for whom.

Park has said she would negotiate with Kim Jong-un, the youthful leader of North Korea who recently celebrated a year in office, but wants the South's isolated and impoverished neighbor to give up its nuclear weapons program as a precondition for aid, something Pyongyang has refused to do.

The two Koreas remain technically at war after an armistice ended their conflict. Kim Il Sung, the grandfather of the North's current leader, ordered several assassination attempts on Park's father, one of which resulted in her mother being shot to death in 1974.

Park herself met Kim Jong-un's father, the late leader Kim Jong-il, and declared he was "comfortable to talk to" and he seemed to be someone "who would keep his word".

The North successfully launched a long-range rocket last week in what critics said was a test of technology for an intercontinental ballistic missile and has recently stepped up its attacks on Park, describing her as holding a "grudge" and seeking "confrontation", code for war.

Park remains a firm supporter of a trade pact with the United States that and looks set to continue the free-market policies of her predecessor, although she has said she would seek to spread wealth more evenly.

The biggest of all the chaebol, Samsung Group, which produces the world's top selling smartphone as well as televisions, computer chips and ships, has sales equivalent to about a fifth of South Korea's national output.

(Additional reporting by Jumin Park, Seongbin Kang, Narae Kim, SoMang Yang; Writing by David Chance; Editing by Robert Birsel)

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Facebook CEO Mark Zuckerberg donating $500 million in stock to Silicon Valley charity

SAN FRANCISCO – Facebook CEO Mark Zuckerberg said Tuesday he is donating nearly $ 500 million in stock to a Silicon Valley charity with the aim of funding health and education issues.

Zuckerberg donated 18 million Facebook shares, valued at $ 498.8 million based on their Tuesday closing price. The beneficiary is the Silicon Valley Community Foundation, a non-profit that works with donors to allocate their gifts.

This is Zuckerberg’s largest donation to date. He pledged $ 100 million in Facebook stock to Newark, New Jersey, public schools in 2010, before his company went public earlier this year. Later in 2010, he joined Giving Pledge, an effort led by Microsoft Corp. founder Bill Gates and Berkshire Hathaway Inc. CEO Warren Buffett to get the country’s richest people to donate most of their wealth. His wife, Priscilla Chan, joined with him.

In a Facebook post Tuesday, Zuckerberg, 28, said he’s “proud of the work” done by the foundation that his Newark donation launched, called Startup: Education, which has helped open charter schools, high schools and others.

With the latest contribution, he added, “we will look for areas in education and health to focus on next.” He did not give further details on what plans there may be for funds.

“Mark’s generous gift will change lives and inspire others in Silicon Valley and around the globe to give back and make the world a better place,” said Emmett D. Carson, CEO of the foundation.

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Newtown's Dawn Hochsprung and Victoria Soto to Be Buried Wednesday

By Stephen M. Silverman

12/19/2012 at 08:50 AM EST

Principal Dawn Hochsprung (left) and Victoria Soto

AP; Polaris

Newtown, Conn., will see six more funerals and remembrances on Wednesday, including services for the beloved Dawn Hochsprung, Sandy Hook Elementary School's principal, who lunged at her assassin, and heroic teacher Victoria Soto, who tried to shield her students as the bullets were flying.

Wednesday afternoon, mourners will have a chance to pay respects to Hochsprung at a local funeral home, at the invitation of her family. Her burial will be private.

Funerals are also scheduled for Charlotte Bacon, 6; Daniel Barden, 7; and Caroline Previdi, 6. The family of Chase Kowalski, 7, is holding a public visitation and prayer vigil.

Surviving Sandy Hook students face another day of school at the unused Chalk Hill School in nearby Monroe, Conn., At the Sandy Hook school itself, the mountain of candles, flowers and stuffed animals continued to grow, despite rainy weather.

The shock of what happened Friday, and the nearly insurmountable grief that has followed, looks to be having a tangible impact on the nation.

President Obama, who personally embraced Newtown families on Sunday, has assigned Vice President Joe Biden the task of formulating the administration's policies to reduce violence and prevent mass-shootings like the one that took 26 lives at Sandy Hook Elementary School, administration officials tell ABC News.

The officials also say the President additionally wishes to address cultural and mental health factors contributions to the mounting gun violence in the country.

On Tuesday, reports Reuters, the private equity firm Cerberus Capital Management LP said it would sell its investment in the company that makes the AR-15-type Bushmaster rifle that Sandy Hook killer Adam Lanza used on 20 students and six staff members.

In addition, for the first time since the massacre, the National Rifle Association, broke its silence on Tuesday, saying it was "shocked, saddened and heartbroken" and "prepared to offer meaningful contributions" to prevent future incidents of this kind.

The powerful gun lobby plans a news conference Friday.

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Experts: Kids are resilient in coping with trauma

WASHINGTON (AP) — They might not want to talk about the gunshots or the screams. But their toys might start getting into imaginary shootouts.

Last week's school shooting in Connecticut raises the question: What will be the psychological fallout for the children who survived?

For people of any age, regaining a sense of security after surviving violence can take a long time. They're at risk for lingering anxiety, depression, post-traumatic stress disorder.

But after the grief and fear fades, psychiatrists say most of Newtown's young survivors probably will cope without long-term emotional problems.

"Kids do tend to be highly resilient," said Dr. Matthew Biel, chief of child and adolescent psychiatry at MedStar Georgetown University Hospital.

And one way that younger children try to make sense of trauma is through play. Youngsters may pull out action figures or stuffed animals and re-enact what they witnessed, perhaps multiple times.

"That's the way they gain mastery over a situation that's overwhelming," Biel explained, saying it becomes a concern only if the child is clearly distressed while playing.

Nor is it unusual for children to chase each other playing cops-and-robbers, but now parents might see some also pretending they're dead, added Dr. Melissa Brymer of the UCLA-Duke National Center for Child Traumatic Stress.

Among the challenges will be spotting which children are struggling enough that they may need professional help.

Newtown's tragedy is particularly heart-wrenching because of what such young children grappled with — like the six first-graders who apparently had to run past their teacher's body to escape to safety.

There's little scientific research specifically on PTSD, post-traumatic stress disorder, in children exposed to a burst of violence, and even less to tell if a younger child will have a harder time healing than an older one.

Overall, scientists say studies of natural disasters and wars suggest most children eventually recover from traumatic experiences while a smaller proportion develop long-term disorders such as PTSD. Brymer says in her studies of school shootings, that fraction can range from 10 percent to a quarter of survivors, depending on what they actually experienced. A broader 2007 study found 13 percent of U.S. children exposed to different types of trauma reported some symptoms of PTSD, although less than 1 percent had enough for an official diagnosis.

Violence isn't all that rare in childhood. In many parts of the world — and in inner-city neighborhoods in the U.S., too — children witness it repeatedly. They don't become inured to it, Biel said, and more exposure means a greater chance of lasting psychological harm.

In Newtown, most at risk for longer-term problems are those who saw someone killed, said Dr. Carol North of the University of Texas Southwestern Medical Center, who has researched survivors of mass shootings.

Friday's shootings were mostly in two classrooms of Sandy Hook Elementary School, which has about 450 students through fourth-grade.

But those who weren't as close to the danger may be at extra risk, too, if this wasn't their first trauma or they already had problems such as anxiety disorders that increase their vulnerability, she said.

Right after a traumatic event, it's normal to have nightmares or trouble sleeping, to stick close to loved ones, and to be nervous or moody, Biel said.

To help, parents will have to follow their child's lead. Grilling a child about a traumatic experience isn't good, he stressed. Some children will ask a lot of questions, seeking reassurance, he said. Others will be quiet, thinking about the experience and maybe drawing or writing about it, or acting it out at playtime. Younger children may regress, becoming clingy or having tantrums.

Before second grade, their brains also are at a developmental stage some refer to as magical thinking, when it's difficult to distinguish reality and fantasy. Parents may have to help them understand that a friend who died isn't in pain or lonely but also isn't coming back, Brymer said.

When problem behaviors or signs of distress continue for several weeks, Brymer says it's time for an evaluation by a counselor or pediatrician.

Besides a supportive family, what helps? North advises getting children back into routines, together with their friends, and easing them back into a school setting. Studies of survivors of the Sept. 11 terrorist attacks found "the power of the support of the people who went through it with you is huge," she said.

Children as young as first-graders can benefit from cognitive-behavioral therapy, Georgetown's Biel said. They can calm themselves with breathing techniques. They also can learn to identify and label their feelings — anger, frustration, worry — and how to balance, say, a worried thought with a brave one.

Finally, avoid watching TV coverage of the shooting, as children may think it's happening all over again, Biel added. He found that children who watched the 9/11 clips of planes hitting the World Trade Center thought they were seeing dozens of separate attacks.

___

EDITOR'S NOTE — Lauran Neergaard covers health and medical issues for The Associated Press in Washington.

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Stock futures point to higher open, Oracle up early

NEW YORK (Reuters) - Stock futures pointed to a higher open on Wednesday as the latest offers in ongoing U.S. budget negotiations underlined hopes for a deal, while technology shares were lifted by strong results from Oracle.

The S&P 500 is on track to extend its best two-day run in a month, a sign that investors are looking past the "fiscal cliff," a combination of tax hikes and spending cuts many fear could push the economy into recession if they take effect next year.

President Barack Obama's most recent offer to Republicans in the ongoing fiscal talks made concessions on taxes and social programs spending, amid concerns from Senate Democrats. House Speaker John Boehner said he remained hopeful about an agreement, though the offer was "not there yet." [ID:nL1E8NI331]

"Both Obama and Boehner have been making concessions, suggesting a deal will get done before the deadline, resulting in an acceleration in stock buying," said Adam Sarhan, chief executive of Sarhan Capital in New York.

Tech shares will be in focus a day after Oracle Corp reported earnings that beat expectations on strong software sales growth. Shares rose 2.7 percent to $33.78 in premarket trading.

FedEx Corp reported second-quarter revenue that beat expectations, but said its earnings in the quarter had been impacted by Superstorm Sandy. Shares rose 1.3 percent to $93.53 before the bell.

S&P 500 futures rose 3.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 37 points and Nasdaq 100 futures rose 9 points.

The S&P has gained 2.3 percent over the past two sessions, the first time it has notched two straight days of 1 percent gains since late July. Markets have been supported by any indication agreement might be reached, with banks and energy shares- groups that outperform during periods of economic expansion - leading gains.

"We've been breaking above levels of resistance, including the 50-day moving average and the November high, so from a technical standpoint we're seeing a lot of improvement," Sarhan said. "We're set up for a strong 2013."

Trading volume has been light ahead of the holidays and as some caution remains over the cliff. Equities have struggled to gain ground in recent weeks amid signs there was little room for compromise between the two political parties.

Knight Capital Group Inc climbed 4.1 percent to $76.68 in premarket after it agreed to be bought by Getco Holdings in a deal valued at $1.4 billion. The stock, which was devastated by a near-fatal trading error in August, remains down about 76 percent so far this year.

General Mills Inc reported earnings that beat expectations and raised its full-year profit view, citing a recent acquisition which lifted sales. Shares gained 1.5 percent to $42.40 in premarket trading.

Industrial machinery maker SPX Corp is closing in on a roughly $4.2 billion deal to buy rival Gardner Denver Inc , as it makes progress in securing financing, a source familiar with the matter said on Tuesday. Gardner shares rose 4.1 percent before the bell to $76.68.

U.S. housing starts fell 3 percent in November, impacted by Superstorm Sandy. Stock index futures barely reacted to the data.

(Editing by Bernadette Baum)

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Egypt opposition to protest against "invalid" constitution

CAIRO (Reuters) - Egypt's opposition will hold new protests on Tuesday against an Islamist-backed draft constitution that has divided the nation but which looks set to be approved in the second round of a referendum next weekend.

Islamist President Mohamed Mursi obtained a 57 percent "yes" vote for the constitution in a first round of the referendum on Saturday, state media said, less than he had hoped for.

The result is likely to embolden the opposition, which says the law is too Islamist. But they are unlikely to win this Saturday's second round, to be held in districts seen as even more sympathetic towards Mursi's Muslim Brotherhood.

Protesters broke out into cheers when the public prosecutor Mursi appointed last month announced his resignation late on Monday. Further signs of opposition emerged when a judges' club urged its members not to supervise Saturday's vote. But the call is not binding on members and balloting is expected to go ahead.

If the constitution passes next weekend, national elections can take place early next year, something many hope will help end the turmoil that has gripped Egypt since the fall of Hosni Mubarak nearly two years ago.

The main opposition coalition, the National Salvation Front, said there were widespread voting violations in the first round of the referendum and urged organizers to ensure that the second round was properly supervised.

It has called for protests across Egypt on Tuesday "to stop forgery and bring down the invalid draft constitution" and wants organizers to re-run the first round of voting.

The Ministry of Justice said it was appointing a group of judges to investigate allegations of voting irregularities around the country.

DEMONSTRATIONS

In Cairo, the Front planned to hold demonstrations at Tahrir Square, cradle of the revolution that toppled Mubarak, and outside Mursi's presidential palace, still ringed with tanks after earlier protests.

"Down with the constitution of the Brotherhood," the Front said in a statement. "Down with the constitution of tyranny."

A protester at the presidential palace, Mohamed Adel, 30, said: "I have been camping here for weeks and will continue to do so until the constitution that divided the nation, and for which people died, gets scrapped."

The build-up to the first round of voting saw clashes between supporters and opponents of Mursi in which eight people died. Recent demonstrations in Cairo have been more peaceful, although rival factions clashed on Friday in Alexandria, Egypt's second biggest city.

On Monday evening, more than 1,300 members of the General Prosecution staff gathered outside the office of Public Prosecutor Talaat Ibrahim to demand that he leave his post.

Hours later, Ibrahim announced he had resigned and the crowd cheered, "God is Great! Long live justice!" and "Long live the independence of the judiciary!" witnesses said.

The closeness of the first-round referendum vote and low turnout give Mursi scant comfort as he seeks to assemble support for difficult economic reforms to reduce the budget deficit.

He will hold a further round of national unity talks with political leaders on Tuesday, but the National Salvation Front is expected to stay away, as it has in the past.

OPPOSITION BOOST

The lack of a big majority in the plebiscite so far has complicated matters for Mursi, strengthening the fractious opposition and casting doubt on the credibility of the constitution, political analysts believe.

"This percentage ... will strengthen the hand of the National Salvation Front and the leaders of this Front have declared they are going to continue this fight to discredit the constitution," said Mustapha Kamal Al-Sayyid, a professor of political science at Cairo University.

Mursi would be likely to become more unpopular with the introduction of planned austerity measures, polarizing society further, Sayyid told Reuters.

To tackle the budget deficit, the government needs to impose tax rises and cut back fuel subsidies. Uncertainty surrounding economic reform plans has already forced the postponement of a $4.8 billion loan from the International Monetary Fund. The Egyptian pound has fallen to eight-year lows against the dollar.

Mursi and his backers say the constitution is needed to move Egypt's democratic transition forward. Opponents say the document is too Islamist and ignores the rights of women and of minorities, including Christians who make up 10 percent of the population.

Demonstrations erupted when Mursi awarded himself extra powers on November 22 and then fast-tracked the constitution through an assembly dominated by his Islamist allies and boycotted by many liberals.

The referendum has had to be held over two days because many of the judges needed to oversee polling staged a boycott in protest. In order to pass, the constitution must be approved by more than 50 percent of those voting.

(Additional reporting by Tamim Elyan and Edmund Blair; Writing by Giles Elgood; Editing by Michael Roddy)

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Iran leader gets the clicks with Facebook rumor

DUBAI, United Arab Emirates (AP) — A Facebook page purportedly created by Iran‘s Supreme Leader Ayatollah Ali Khamenei attracted nearly 10,000 followers on Tuesday although the site’s content and style raise serious questions about its authenticity.

Iranian authorities had no immediate comment on the site, which apparently went online last week but only recently gained prominence among social media watchers. Despite the possibility that it is a hoax, the page has generated at least 170 comments — laudatory and derogatory, and nearly all in Farsi — that highlight the deep political divisions in Iran and possibly opposition fervor from expatriate Iranians.

One post compared Khamenei to a celebrated ruler of ancient Persia, Cyrus the Great, who significantly expanded the Persian empire 2,500 years ago.

Another wrote: “Mr. Khamenei, how are you visiting this page? With proxy?”

It was a reference to Iran’s blocking of Facebook and many other Western social media sites, and the efforts to bypass the restrictions using proxy server links from outside Iran.

The U.S. State Department said Monday it will keep tabs on the page, but had no comment on whether it was genuine or not. Spokeswoman Victoria Nuland joked that Washington is curious how many “likes” the Khamenei page receives.

But much about the page — including an informal photo of Khamenei riding in a car — suggested it was not sanctioned by Iran’s top leader. It is also highly unlikely that Khamenei would endorse a banned outlet such as Facebook.

The Net is not unknown territory for Iranian leaders, however. Khamenei, President Mahmoud Ahmadinejad and others have official websites. Also, some senior Iranian clerics issue religious opinions by email.

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Richard Engel, NBC Newsman, Returns to Safety After Kidnapping

By Stephen M. Silverman

12/18/2012 at 08:30 AM EST

Richard Engel (center) with colleagues on Today show, Dec. 18, 2012

Richard Engel, chief foreign correspondent for NBC News, and two of his crewmembers escaped Monday after they were kidnapped, psychologically tortured and held in captivity for five days inside Syria, Engel – standing with his two colleagues in Antakya, Turkey – said in a live broadcast on Tuesday's Today show.

"It is good to be here," said Engel, looking fit and sounding erudite as ever. "I'm very happy that we're able to do this live shot this morning."

Engel, 39, was with producer Ghazi Balkiz and cameraman John Kooistra to report on the insurgency that is fighting President Bashar al-Assad in the troubled country. He said Tuesday, "We were driving in Syria about five days ago in what we thought was a rebel-controlled area. We were with some of the rebels."

Suddenly, he said, "a group of gunmen just literally jumped out of the trees and bushes on the side of the road. There were about 15 gunmen. They were wearing masks. They were heavily armed. They dragged us out of the car."

The gunmen placed them in a truck that was waiting by the side of the road, said Engel, who also reported that one of the rebels with them "was executed on the spot."

"They took us to a series of safe house and interrogation places, and they kept us blindfolded and bound."

While the men were not physically tortured, Engel said, they were psychologically tortured, with threats that they would be killed, amid demands – and mock shootings – that they pick which one of them should be killed first.

They managed their escape as they were being moved to another location, said Engel. "The kidnappers ran across a rebel checkpoint they didn't expect." During the gunfire, two of the kidnappers were killed, and the three men "climbed out of the vehicles, and we spent the night with the rebels."

Engel pronounced the three of them to be in good health and expressed his thanks to NBC News for keeping the story quiet until they were free and for keeping their families informed during the harrowing ordeal. He said he believes the kidnappers were those loyal to President al-Assad.

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Experts: No link between Asperger's, violence

NEW YORK (AP) — While an official has said that the 20-year-old gunman in the Connecticut school shooting had Asperger's syndrome, experts say there is no connection between the disorder and violence.

Asperger's is a mild form of autism often characterized by social awkwardness.

"There really is no clear association between Asperger's and violent behavior," said psychologist Elizabeth Laugeson, an assistant clinical professor at the University of California, Los Angeles.

Little is known about Adam Lanza, identified by police as the shooter in the Friday massacre at a Newtown, Conn., elementary school. He fatally shot his mother before going to the school and killing 20 young children, six adults and himself, authorities said.

A law enforcement official, speaking on condition of anonymity because the person was not authorized to discuss the unfolding investigation, said Lanza had been diagnosed with Asperger's.

High school classmates and others have described him as bright but painfully shy, anxious and a loner. Those kinds of symptoms are consistent with Asperger's, said psychologist Eric Butter of Nationwide Children's Hospital in Columbus, Ohio, who treats autism, including Asperger's, but has no knowledge of Lanza's case.

Research suggests people with autism do have a higher rate of aggressive behavior — outbursts, shoving or pushing or angry shouting — than the general population, he said.

"But we are not talking about the kind of planned and intentional type of violence we have seen at Newtown," he said in an email.

"These types of tragedies have occurred at the hands of individuals with many different types of personalities and psychological profiles," he added.

Autism is a developmental disorder that can range from mild to severe. Asperger's generally is thought of as a mild form. Both autism and Asperger's can be characterized by poor social skills, repetitive behavior or interests and problems communicating. Unlike classic autism, Asperger's does not typically involve delays in mental development or speech.

Experts say those with autism and related disorders are sometimes diagnosed with other mental health problems, such as depression, anxiety, bipolar disorder or obsessive-compulsive disorder.

"I think it's far more likely that what happened may have more to do with some other kind of mental health condition like depression or anxiety rather than Asperger's," Laugeson said.

She said those with Asperger's tend to focus on rules and be very law-abiding.

"There's something more to this," she said. "We just don't know what that is yet."

After much debate, the term Asperger's is being dropped from the diagnostic manual used by the nation's psychiatrists. In changes approved earlier this month, Asperger's will be incorporated under the umbrella term "autism spectrum disorder" for all the ranges of autism.

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AP Writer Matt Apuzzo contributed to this report.

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Online:

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Stock futures gain on hopes for "fiscal cliff" deal

NEW YORK (Reuters) - Stock futures rose on Tuesday, indicating equities could extend a rally that took them to nearly two-month highs on growing optimism over a "fiscal cliff" deal.

Stocks have struggled for direction in recent weeks, with investors reluctant to make big bets in the face of uncertainty over the cliff, a combination of steep tax hikes and spending cuts that could hurt the U.S. economy if they take effect next year. Moves have been muted over the past weeks, with volume anemic.

Hopes for a deal grew on Monday night as President Barack Obama made a counter-offer to Republicans that included a major change in position on tax hikes for the wealthy, according to a source familiar with the talks.

That report followed a meeting between Obama and Republican House Speaker John Boehner, who has edged closer to Obama's position by proposing to extend lower tax rates for everyone who earns less than $1 million.

Many investors fear that going over the fiscal cliff could push the U.S. economy back into recession, an outcome that would also pressure global growth and sap demand for commodities.

"Neither side appears to be digging in their heels so much, and that increases the optimism there might be a deal," said Oliver Pursche, president of Gary Goldberg Financial Services in Suffern, New York. "Political risks have been the main thing suppressing market gains, so if those abate we could see a rally that is significant."

S&P 500 futures rose 5.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 30 points and Nasdaq 100 futures rose 18 points.

European shares <.fteu3> rose 0.3 percent on Monday, while January crude futures were up 0.6 percent. The MSCI index of global stocks <.miwd00000pus> rose 0.2 percent.

While the cliff has been the primary driver for markets, tech shares will also be in view as Oracle Corp reports results after the market closes. The company is seen posting profit growth of more than 10 percent but a 2.3 percent dip in revenue, according to Thomson Reuters data.

Reporting quarterly results early on Tuesday, Sanderson Farms Inc posted a better-than-expected profit, helped by rising poultry prices. Jefferies Group is on tap to report later in the day.

The New York Times late Monday said that Wal-Mart Stores Inc's Mexican affiliate routinely used bribes to open stores in desirable locations. The story cited 19 instances of the retail giant paying off local officials. In a statement Monday night, Wal-Mart spokesman David Tovar said the company was looking into the allegations.

Arbitron Inc surged 25 percent to $47.60 in premarket trading after Nielsen Holdings NV agreed to buy the media and marketing research firm in a deal worth $1.26 billion.

U.S. third-quarter current account figures are due to be released at 8:30 a.m. (1330 GMT). Economists in a Reuters survey forecast a $103.4 billion deficit versus a deficit of $117.4 billion in Q2.

Hopes for a fiscal cliff deal lifted shares on Monday, breaking a two-day decline for the S&P. The Dow and Nasdaq surged more than 1 percent in Monday's session, while all 10 S&P 500 sectors ended higher.

(Editing by Kenneth Barry)

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