Stock index futures cut their gains and turned negative on Friday as Caterpillar Inc
The stock lost 6.8 percent to $104, while Microsoft Corp
S&P 500 futures fell 0.7 point but 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 slid 22 points and Nasdaq 100 futures lost 5 points.
(Reporting by Ryan Vlastelica)