Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+1.06%) is in the lead on Thursday afternoon, up about 435 points.

A look inside the DJIA shows that Intel (INTC 20.44, +0.873, +4.23%), Apple (AAPL 232.30, +5.81, +2.57%), and Visa (V 275.04, +5.85, +2.17%) show solid gains.

Meanwhile, Home Depot (HD 369.25, -1.19, -0.32%) is underperforming.

The DJIA is now up about +0.85% on the week.

Elsewhere, U.S. Treasuries have climbed off session lows that were reached about two hours ago, but most tenors remain in the red while the 5-yr note has returned to its flat line, making for a continuation of today's outperformance. The market is holding near its rebound highs even though the just-completed $44 bln 7-yr note sale met soft demand, as the high yield (3.770%) tailed the when-issued yield by 0.9 basis points while the bid-to-cover ratio (2.50x) was below average (2.56x). Foreign demand remained strong, however, as indirect takedown (75.1%) was comfortably above the prior 12-auction average (68.6%). The 7-yr note sale makes for an unimpressive finish to this week's note auction slate that started with a strong 2-yr note offering on Tuesday. On a side note, Fitch affirmed the AA+ rating for the United States with a Stable outlook.