November 8, 2013 / 12:42 PM / in 4 years

Futures slide after strong payrolls data

A trader raises his hand just before the Twitter Inc. IPO begins on the floor of the New York Stock Exchange in New York, November 7, 2013.Lucas Jackson

NEW YORK (Reuters) - U.S. stock index futures turned sharply lower on Friday after job growth unexpectedly accelerated in October as employers shrugged off a government shutdown, raising the chance that the Federal Reserve will scale back its stimulus program before the end of the year.

S&P 500 futures fell 4.5 points and were below 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 lost 40 points and Nasdaq 100 futures fell 2 points.

Reporting by Rodrigo Campos; Editing by Nick Zieminski

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