The S&P 500 and Nasdaq index futures erased losses and turned positive shortly before the open on Thursday.

S&P 500 futures rose 2.3 points and were slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures lost 1 points, while Nasdaq 100 futures gained 3.5 points.

(Reporting by Angela Moon)