RTRS: US STOCKS-Futures cut gains after grim jobs data
NEW YORK, Nov 7 (Reuters) - U.S. stock index futures cut gains on Friday after a government report showed U.S. employers cut payrolls by 240,000 in October, much more severely than expected, heightening fears that the economic downturn is deepening.
S&P 500 futures SPc1 were 2.2 points higher 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 DJc1 climbed 33 points, and Nasdaq 100 NDc1 gained 16.75 points. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
