Stock futures fall further after GDP data

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January 31, 2013 12:42 AM EST

Stock index futures extended losses after data showed the economy unexpectedly contracted in the fourth quarter, declining by 0.1 percent against expectations of a 1.1 percent increase.

S&P 500 futures fell 4 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 7 points and Nasdaq 100 futures fell 4 points.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)

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