Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.27%) is in front on Wednesday afternoon, up almost 125 points.

A look inside the DJIA shows that Salesforce (CRM 249.32, +5.58, +2.29%), Chevron (CVX 159.84, +2.48, +1.58%), and IBM (IBM 245.37, +2.74, +1.13%) are outperforming.

Meanwhile, Nike (NKE 77.76, -0.89, -1.13%) falls the most.

The DJIA is now down just -0.20% week-to-date.

Elsewhere, U.S. Treasuries trade on their highs after overcoming some early softness, though the long bond has yet to make it back into positive territory. The entire complex is holding near highs even though the just-completed $70 bln 5-yr note auction met weak demand. The sale drew a high yield of 3.724%, which tailed the when-issued yield by 0.7 basis points. The bid-to-cover ratio (2.36x) was below average (2.39x), which was also the case with indirect takedown (60.5% vs 69.0%), reflecting ongoing caution among foreign investors.