U.S. stock-index futures advanced, indicating the Standard & Poor’s 500 Index will snap a two-day drop, as investors weighed prospects for a budget deal.

Obama and House Speaker John Boehner haven’t reached a deal with two weeks remaining to avert more than $600 billion in automatic spending cuts and tax increases, known as the fiscal cliff, set to start in January. The Congressional Budget Office has said a failure to prevent those changes may lead to a recession in the first half of 2013.

Global Stocks:

Nikkei 225 9,828.88 +91.32 +0.94%

S&P/ASX 200 4,573.4 -9.71 -0.21%        

Shanghai Composite 2,160.34 +9.72 +0.45%

FTSE 100 5,891.55 -30.21 -0.51%        

CAC 40 3,629.73    -13.55 -0.37%                    

DAX 7,587.39         -9.08 -0.12%

Oil    $86.90 +0.17   +0.20%

Gold $1,697.50     +0.50   +0.03%