Stock index futures turned higher on Thursday after Morgan Stanley reported a narrower-than-expected quarterly loss.

Morgan Stanley rose 6.5 percent after its earnings report.

S&P 500 futures rose 7.9 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 added 71 points and Nasdaq 100 futures rose 8.25 points.