S&P, Nasdaq futures fall after ADP

03/02/2010 - 13:30

NEW YORK (Reuters) - Stock index futures briefly moved higher then turned negative on Wednesday after the ADP national employment report showed the private sector shed fewer jobs than expected in January.

S&P 500 futures fell 1.8 points and 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 declined 16 points, and Nasdaq 100 futures were off 1.25 points.

(Reporting by Edward Krudy; editing by Jeffrey Benkoe)