Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.50%) is in front on Thursday afternoon, handily outperforming the next-best major average (S&P 500 +0.11%).

A look inside the DJIA shows that Caterpillar (CAT 390.46, +12.21, +3.23%), 3M (MMM 39.38, +2.78, +2.04%), and Boeing (BA 155.15, +2.93, +1.92%) hold decent gains.

Meanwhile, Walmart (WMT 79.54, -1.86, -2.29%) is underperforming.

The DJIA flips weekly losses to gains, now up +0.14% since last Friday.

Elsewhere, U.S. Treasuries of most tenors hover just above their lowest levels of the day while the long bond outperforms slightly, trading a bit closer to its unchanged level. Shorter tenors have been at the forefront of today's retreat, reversing some of the strength that has been seen since the FOMC rate cut announcement, but the entire complex has received a small boost in recent action, as the market responded to another strong note auction. The U.S. Treasury capped this week's slate of solid note offerings with a strong $44 bln 7-yr note sale, which stopped through by 0.7 bps. The bid-to-cover ratio (2.36x vs 2.54x) was a bit below the prior 12-auction average while indirect takedown (70.8% vs 68.6% average) was better than average.