Stock index futures cut losses on Friday with the S&P and Nasdaq futures briefly turning positive.

S&P 500 futures fell 1.8 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 took off 12 points, and Nasdaq 100 futures dropped 3.25 points.

(Reporting by Angela Moon)