Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.05%) is back in positive territory after dipping briefly into the red in the last half hour.

A look inside the DJIA shows that Caterpillar (CAT 388.64, -9.61, -2.41%), Dow (DOW 53.38, -1.24, -2.27%), and American Express (AXP 268.44, -5.35, -1.95%) are underperforming.

Meanwhile, Travelers (TRV 229.97, +4.00, +1.77%) is one of today's top gain getters.

The DJIA is now down about -0.90% from Friday's close.

Elsewhere, U.S. Treasuries have dipped from their rebound highs that were reached around noon, facing some renewed pressure after the just completed $58 bln 3-yr note sale. The rebound that preceded the auction found resistance shortly after the 10-yr note briefly turned positive. Shorter tenors remain a bit ahead 10s and 30s, but they have faced some pressure after the 3-yr note sale met weak demand, drawing a high yield of 3.878%, which tailed the when-issued yield by nearly a basis point. The bid-to-cover ratio (2.45x vs 2.58x average) was below the prior 12-auction average, as was indirect takedown (56.9% vs 64.2% average).