Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.21%) is today's worst-performing major average, down about 90 points.

A look inside the DJIA shows that Merck (MRK 76.23, -1.36, -1.75%), Nike (NKE 61.93, -0.90, -1.43%), and IBM (IBM 261.29, -1.94, -0.74%) are underperforming.

Meanwhile, UnitedHealth (UNH 300.81, +5.81, +1.97%) is atop the standings.

The DJIA is now -0.68% lower YTD.

Elsewhere, the $70 billion 5-yr note auction went off without problems and featured strong demand from indirect bidders, which is a good sign in terms of foreign interest. The high yield of 4.071% stopped through the when-issued yield of 4.075% by a slim margin, with the 2.39 bid-to-cover ratio lining up exactly with the prior 12-auction average. Overall, dollar demand for this auction was average (which isn't bad). Treasury yields haven't reacted much, but there has been a slight turn lower from higher yield levels seen shortly before the auction results.