Stock index futures trimmed gains before regaining ground on Wednesday after gross domestic product data showed the economy shrank at a steeper-than-expected pace in the first quarter.

S&P 500 futures rose 8.30 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 81 points, and Nasdaq 100 futures added 12.25 points.

(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)