Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.93%) is up now about 438 points, tied for second place with the S&P 500.

A look inside the DJIA shows that Boeing (BA 187.43, +4.99, +2.74%), Walmart (WMT 109.39, +2.39, +2.23%), and Microsoft (MSFT 487.13, +10.14, +2.13%) show decent gains.

Meanwhile, Salesforce (CRM 228.30, -5.82, -2.49%) is underperforming.

The DJIA is up +2.82% week-to-date.

Also, at the top of the hour, Baker Hughes (BKR 50.08, +0.65, +1.31%) announced a weekly U.S. rotary rig count of 544, -10 w/w and -38 yr/yr.

Elsewhere, U.S. Treasuries are back near their starting levels after a solid bounce off their morning lows. Treasuries slid from their opening levels during the first couple hours of action, but they found support once yields on most tenors approached their closing levels from Monday. The past three hours have seen a steady bounce with 10s and 30s revisiting their best levels of the day while shorter tenors remain a bit behind. Treasuries have held near their rebound highs even though the U.S. Treasury completed this week's mixed note auction slate with a poor sale of $44 bln in 7-yr notes. The auction drew a high yield of 3.781%, which tailed the when-issued yield by 0.6 bps while the bid-to-cover ratio (2.46x vs 2.60x average) and indirect takedown (56.7% vs 67.4% average) were below average.