Stock futures cut gains on concerns about Europe

Chancellor Angela Merkel

Merkel said Germany is opposed to a phrase in the draft EU summit that calls for support for continued ECB non-standard measures.

S&P 500 futures rose 0.2 point and were in line with 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 rose 1 points, while Nasdaq 100 futures added 0.75 point.

(Reporting by Angela Moon; Editing by Theodore d'Afflisio)