Stock index futures pared losses on Thursday after U.S. initial jobless claims fell more than expected last week and showed their biggest decline since February.

S&P 500 futures fell 1 point and were in line with 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 40 points, and Nasdaq 100 futures rose 0.25 points.