Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+0.38%) is in first place on Wednesday afternoon, up 193 points.

A look inside the DJIA shows that Procter & Gamble (PG 147.50, +4.54, +3.18%), Home Depot (HD 317.52, +6.98, +2.25%), and Coca-Cola (KO 82.09, +1.63, +2.03%) show solid gains.

Meanwhile, JPMorgan Chase (JPM 297.77, -8.97, -2.92%) is underperforming.

The DJIA is now +12.4% higher off the March lows.

Elsewhere, U.S. Treasuries continue hovering just below their opening levels, making for quiet intraday trade. The market established today's trading range within the initial hour of action, and it remains inside that range going into the early afternoon. The U.S. Treasury just completed this week's second note sale, which was a bit worse than yesterday's 2-yr note offering. Today's $70 bln 5-yr note auction drew a high yield of 4.182%, which tailed the when-issued yield by a tenth of a basis point while the bid-to-cover ratio (2.34x) was below average (2.38x). Indirect takedown (74.9%), however, was comfortably above average (64.2%).