US STOCKS SNAPSHOT-Futures trim gains after GDP, jobless claims data

Thursday, 7 Nov 2013 | 8:38 AM ET

NEW YORK, Nov 7 (Reuters) - U.S. stock index futures briefly trimmed gains on Thursday after data showed the U.S. economy grew faster than expected in the third quarter and initial claims for state unemployment benefits fell last week, mostly in line with expectations.

S&P 500 futures rose 8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures added 7 points and Nasdaq 100 futures rose 73 points.

Futures turned sharply higher earlier after the European Central Bank cut its benchmark interest rate to a record low.