S&P futures trim gains after jobless claims rise

By IBTimes Staff Reporter | April 23 2009 8:48 AM

S&P 500 index futures trimmed gains on Thursday after government data showed the number of workers filing new claims for jobless benefits rose slightly more than expected last week.

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But futures still pointed to a higher open as results from companies like Apple Inc and Hershey Co suggested some businesses weathered the recession in the first quarter.

S&P 500 futures rose 6 points and were 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 climbed 44 points, and Nasdaq 100 futures added 19.25 points.

(Reporting by Leah Schnurr)