Stock index futures rose after new claims for unemployment benefits fell more than expected last week, dropping below the key 400,000 level for the first time since early April.

S&P 500 futures rose 4.9 points and were slightly above 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 were up 15 points, and Nasdaq 100 futures gained 10.75 points.