Stock index futures erased losses to turn positive on Thursday after data showed new claims for unemployment benefits fell last week, pointing to more healing in the nation's battered jobs market.

S&P 500 futures rose 1.4 points and were in line with air 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 gained 10 points and Nasdaq 100 futures rose 2.5 points.

(Reporting By Angela Moon; editing by Jeffrey Benkoe)