Stock index futures ticked lower on Thursday after data showed consumer spending rose for a fifth straight month in November but first-time jobless claims barely budged last week.

S&P 500 futures dipped 2.3 points and were slightly 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 fell 15 points, and Nasdaq 100 futures slipped 6 points.

(Editing by Jeffrey Benkoe)