US STOCKS-Nokia warning pushes futures down further

(Updates with reaction to Nokia's lowered outlook)

NEW YORK, Sept 5 (Reuters) - U.S. stock futures fell further on Friday after Nokia (NOK1V.HE: Quote, Profile, Research) slashed its third-quarter market share outlook, heightening investors' concern about the global slowdown and the profit outlook.

The Nokia warning added to worry about the U.S. non-farm payrolls report for August, due at 8:30 a.m. (1230 GMT), which might provide further signs of labor market deterioration. The housing slump has hobbled the economy and darkened the profit outlook.

S&P 500 futures SPc1 fell 4.40 points and were below 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 DJc1 fell 34 points and Nasdaq 100 NDc1 futures lost 7.25 points. (Reporting by Ellis Mnyandu, Editing by Kenneth Barry)