S&P GBL TIMB&FORES : S&P 500 futures rise further on housing data

NEW YORK (Reuters) - S&P 500 stock index futures extended gains on Thursday after a report showed U.S. housing starts unexpectedly rose in June, raising hopes the housing market may be stabilizing.

S&P 500 futures rose 10.9 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 gained 110 points and Nasdaq 100 shot up 16.50 points.

(Reporting by Ellis Mnyandu, Editing by Kenneth Barry)