Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.05%) is hovering just above flat lines in recent trading.

A look inside the DJIA shows that Salesforce (CRM 261.18, -14.85, -5.38%), Goldman Sachs (GS 603.11, -5.33, -0.88%), and Cisco (CSCO 62.93, -0.41, -0.65%) are underperforming.

Meanwhile, NVIDIA (NVDA 139.95, +5.14, +3.81%) holds firm atop the standings.

The DJIA is +1.24% higher this week.

Elsewhere, the 7-yr note auction was met with strong demand. The high yield of 4.194% stopped through the when-issued yield of 4.216% by more than two basis points with added interest from indirect and direct bidders compared to the prior 12-auction averages. The 2.69 bid-to-cover ratio also exceeded the prior 12-auction average of 2.59, reflecting strong dollar demand. Treasury yields are skimming their lows of the session in a stark reversal from their overnight highs. Thus far, stocks are still showing a fairly muted reaction to the turn lower in Treasury yields, which have also been helped today by growth concerns following the Q1 GDP, initial and continuing jobless claims, and pending home sales reports.