S&P 500 and Nasdaq index futures pared gains after data showed new orders for long-lasting U.S. manufactured goods increased less-than-expected in December, while jobless claims fell last week.

S&P 500 futures rose 3.8 points and were 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 gained 46 points, and Nasdaq 100 futures were flat.

(Reporting by Angela Moon; Editing by Padraic Cassidy)