Stock Market Update

[BRIEFING.COM] The Dow jones Industrial Average (+0.59%) is at HoDs in recent trading, up 289 points.

A look inside the DJIA shows that Cisco (CSCO 77.04, +2.45, +3.28%), Apple (AAPL 254.54, +6.50, +2.62%), and Microsoft (MSFT 473.72, +7.77, +1.67%) are holding solid gains.

Meanwhile, 3M (MMM 159.99, -2.69, -1.65%) is today's top laggard.

The DJIA is now up about +2.75% month-to-date.

Elsewhere, U.S. Treasuries are hanging onto gains with most tenors having spent the past couple hours in a sideways range just below session highs. The 2-yr note lagged at the open and it remains behind, though it also finds itself in positive territory at this time, thanks in part to a post-auction boost stemming from the just completed spectacular sale of $69 bln in 2-yr notes. The auction drew a high yield of 3.580%, which stopped through the when-issued yield by 1.4 basis points (biggest stop-through since August) while the bid-to-cover ratio (2.75x vs 2.60x average) and indirect takedown (64.4% vs 61.8% average) were well above average. The sale will be followed by a $70 bln 5-yr note offering tomorrow.