Stock futures pared gains on Thursday after Labor Department data showed new claims for unemployment benefits rose more than expected last week.

S&P 500 futures rose 0.7 point but were below 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 34 points and Nasdaq 100 futures fell 9 points.

(Reporting by Chuck Mikolajczak)