(REUTERS) -- Stock index futures pared gains after data showed new claims for unemployment benefits unexpectedly rose to their highest level since January, heightening worry about a stalled labor market recovery.

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 added 26 points and Nasdaq 100 futures gained 7.75 points.

(Reporting By Chuck Mikolajczak; Editing by Theodore d'Afflisio)