Stock futures turn negative in abrupt shift

NEW YORK (Reuters) - Stock index futures turned sharply negative on Thursday, quickly erasing a short-lived bounce that followed comments from Mario Draghi, the president of the European Central Bank.

At a press conference, Draghi said the ECB would draw up a mechanism in the coming weeks to make outright purchases to stabilize stressed euro zone borrowing costs.

S&P 500 futures fell 6.3 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 50 points and Nasdaq 100 futures sank 10.75 points.

(Reporting by Ryan Vlastelica; Editing by Dave Zimmerman)

Source: http://news.yahoo.com/stock-index-futures-signal-firmer-open-093453643--finance.html

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