U.S. Equity Markets Trim Gains on Lack of Follow-Through

U.S. stock index futures gapped higher following a strong surge to the upside in Europe and Asia and rallied even further as U.S. Weekly Initial Claims improved for the third week. Buying, however, dried up as the September E-mini S&P 500 neared psychological resistance at 1000 and traders expressed concerns about today’s Treasury auction. Although the S&P tried to mount a rally late in the session after holding 50% of the day’s range throughout the day, the attempt