US STOCKS SNAPSHOT-Futures briefly pare losses, economy weighs

NEW YORK, July 12 (Reuters) - U.S. stock index futures briefly pared losses on Thursday after data showed fewer Americans filed for unemployment insurance in the latest week than Wall Street expected.

Futures were still lower as the global economic picture remained on shaky ground and minutes from the latest Federal Open Market Committee meeting indicated more stimulus is unlikely in the near future.

S&P 500 futures fell 9.6 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 78 points and Nasdaq 100 futures dropped 15.5 points.

Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 350,000, the lowest since March 2008. (Reporting by Rodrigo Campos)