Stock index futures added to their gains Thursday after a bigger-than-expected drop in weekly jobless claims, a sign of improving labor market conditions.

S&P 500 futures rose 7.2 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 added 53 points and Nasdaq 100 futures rose 16.75 points.

(Reporting by Ryan Vlastelica; Editing by Bernadette Baum)