S&P futures pare losses, nearly turn flat

By IBTimes Staff Reporter | May 14 2009 8:16 AM

S&P 500 stock index futures pared losses and turned nearly flat on Thursday ahead of key producer price and jobless data and after Wal-Mart Stores Inc reported quarterly earnings in line with estimates.

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S&P 500 futures fell 0.8 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 shed 43 points, while Nasdaq 100 futures were up 3 points.

(Reporting by Edward Krudy; editing by Jeffrey Benkoe)

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