Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.01%) is narrowly lower on Tuesday afternoon, having continued to shave off losses from the prior half hour.

A look inside the DJIA shows that NVIDIA (NVDA 143.25, -618, -4.14%), Amazon (AMZN 223.54, -4.07, -1.79%), and Salesforce (CRM 327.07, -3.46, -1.05%) are underperforming.

Meanwhile, Chevron (CVX 150.35, +3.09, +2.10%) is atop the standings.

The DJIA is now +1.25% higher off last Thursday's lows.

Elsewhere, longer-dated U.S. Treasuries continue hovering just above lows that were set in the wake of the strong ISM Services report for December (54.1%; Briefing.com consensus 53.0%) while shorter tenors have shown a bit more resilience. The market has not shown much of an immediate reaction to the just-completed $39 bln 10-yr note reopening, which met demand that was on the softer side. The sale drew a high yield of 4.680%, which tailed the when-issued yield by 0.2 basis points while the bid-to-cover ratio (2.53x vs 2.54x average) and indirect takedown (61.4% vs 67.4%) were a bit below the prior 12-auction average. The U.S. Treasury will cap this week's note and bond auction slate with a $22 bln 30-yr bond reopening tomorrow.