NEW YORK, Aug 5 (Reuters) - S&P 500 stock index futures briefly turned negative on Wednesday following a report that showed U.S. employers cut far more private-sector jobs than expected in July.
* The ADP employment data came two days before the release of the government's all-important non-farm payrolls report for July.
* S&P 500 futures SPc1 shed 1.90 points and were near 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 rose 5 points, and Nasdaq 100 NDc1 futures slipped 2.5 points. (Reporting by Ellis Mnyandu; Editing by Padraic Cassidy)
