Stock index futures extended losses on Thursday after U.S. non-farm payrolls data showed employers cuts 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent.

S&P 500 futures fell 12.4 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 fell 118 points, and Nasdaq 100 futures lost 8.5 points.

(Reporting by Chuck Mikolajczak; Editing by Padraic Cassidy)

Investment