U.S. stock index futures briefly trimmed losses on Wednesday after data showed new orders for long-lasting goods rose for the third straight month, but was slightly below forecasts.

S&P 500 futures slipped 4.40 points and were below 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 lost 39 points, and Nasdaq 100 futures shed 6.25 points.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)