S&P and Dow industrial stock index futures pared losses while Nasdaq futures turned positive on Thursday after analysts said weak jobless data was due to auto plant shutdowns related to Chrysler's bankruptcy.

The number is higher than expected, but I would say that that is due to the auto plant shutdown, said Dan Greenhaus, analyst, Miller Tabak & Co in New York.

That's what made it higher than consensus, and I don't think anyone will be surprised that that led to an uptick.

S&P 500 futures fell 2.3 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 shed 18 points, while Nasdaq 100 futures were up 1.25 point.

(Reporting by Edward Krudy; editing by Jeffrey Benkoe)