U.S. stock index futures jumped on Friday after data showed employers cut far fewer jobs than forecast in May, adding to hopes that the economy was stabilizing.

U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report.

S&P 500 futures rose 12.90 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 jumped 118 points, while Nasdaq 100 futures gained 13.25 points.

(Reporting by Leah Schnurr)