Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.77%) holds the steepest declines among the major averages this afternoon, holding near lows of the session in recent trading.

A look inside the DJIA shows that UnitedHealth (UNH 479.18, -49.32, -3.88%), Goldman Sachs (GS 572.46, -13.87, -2.37%), and Salesforce (CRM 350.98, -6.25, -1.75%) are underperforming.

Meanwhile, Nike (NKE 78.53, +1.33, +1.72%) holds today's top gains in the average.

The DJIA has now amassed losses of -1.02% over the first session and a half of the week.

Elsewhere, the $13 billion 20-yr bond reopening was met with relatively weak demand as the high yield of 4.686% tailed the when-issued yield by 1.5 basis points. The bid-to-cover ratio, a measure of dollar demand, was 2.50 versus the prior 12-auction average of 2.58. There was little reaction in the Treasury market, which is keying off today's Retail Sales report and eyeing tomorrow's FOMC decision, which will be replete with an updated Summary of Economic Projections.