Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.16%) is near the middle of today's range, the only major average in the red this afternoon.

A look inside the DJIA shows that Home Depot (HD 396.30, -6.59, -1.64%), Chevron (CVX 148.34, -2.20, -1.46%), and Coca-Cola (KO 65.77, -0.90, -1.35%) are underperforming.

Meanwhile, Boeing (BA 154.39, +3.70, +2.46%) hold the lead in the standings.

The DJIA is down now about -2.32% off the mid-October highs.

Elsewhere, U.S. Treasuries have risen off their lows, thanks to the just-completed $44 bln 7-yr note sale, which met strong demand, giving the market some relief after it faced prolonged pressure. The auction drew a high yield of 4.215%, which stopped through the when-issued yield by two basis points while the bid-to-cover ratio (2.74x vs 2.53x average) and indirect takedown (72.0% vs 69.1% average) were comfortably above average. The post-auction rally has lifted the 2-yr note into positive territory while longer tenors are rising above today's opening levels.