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Futures turn higher after GDP data


    NEW YORK (Reuters) - Stock index futures turned higher on Friday after data showed the economy shrank at its fastest pace in nearly 27 years in the fourth quarter, but contracted less than expected.

    S&P 500 futures rose 1.50 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 were up 35 points, and Nasdaq 100 futures added 4 points.

    (Reporting by Leah Schnurr; Editing by James Dalgleish)