Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.51%) hosts the shallowest losses among the major averages to this point on Wednesday afternoon, now holding just off session lows.

A look inside the DJIA shows that Nike (NKE 82.53, -2.76, -3.24%), Intel (INTC 19.60, -0.47, -2.34%), and Cisco (CSCO 49.60, -1.11, -2.19%) are underperforming.

Meanwhile, Amgen (AMGN 330.15, +3.22, +0.98%) is today's top gain getter.

The DJIA is down about -0.33% week-to-date.

Elsewhere, U.S. Treasuries continue trading in mixed fashion with the 2-yr note hanging onto a solid gain while longer tenors hover just below their flat lines. The market has faced some light pressure in recent action, as the U.S. Treasury completed today's $70 bln 5-yr note sale to decent demand. Granted, the high yield (3.645%) tailed the when-issued yield by 0.3 bps, but the bid-to-cover ratio (2.41x) was in line with the prior 12-auction average while indirect takedown (70.5% vs 66.5% average) was above average. This week's note auction slate will be completed with a $44 bln 7-yr note offering tomorrow.