Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.51%) is in last place among the major averages on Wednesday afternoon, up about 200 points.

A look inside the DJIA shows that Amgen (AMGN 322.56, +6.65, +2.11%), Honeywell (HON 213.89, +3.29, +1.56%), and Travelers (TRV 205.61, +2.47, +1.22%) hold decent gains.

Meanwhile, Visa (V 261.15, -4.29, -1.62%) is underperforming.

The DJIA is up about +0.30% week-to-date.

Elsewhere, longer-dated Treasuries have risen toward their morning highs after the just-completed $39 bln 10-yr note reopening met strong demand following yesterday's stellar 3-yr note sale. Treasuries drifted just below their opening levels prior to the auction after bouncing off their intraday lows that were reached around 11:00 ET. The market's recent bid appeared after the U.S. Treasury reopened 10-yr notes at a high yield of 4.276%, which stopped through the when-issued yield by a basis point while the bid-to-cover ratio (2.58x vs 2.52x average) and indirect takedown (67.6% vs 66.9%) were just above average. Thanks to the post-auction bid, yields on the 10-yr note and the 30-yr bond are now within a basis point of their lows from Monday.