Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-4.28%) is today's "best" performing major average, on a day when both of the other averages are down more than 5%.

A look inside the DJIA shows that Nike (NKE 52.46, -6.86, -11.56%), Walt Disney (DIS 84.11, -7.33, -8.02%), and NVIDIA (NVDA 105.50, -8.83, -7.72%) are underperforming.

Meanwhile, UnitedHealth (UNH 590.61, +12.11, +2.09%) is the only constituent in positive territory.

Inclusive of today's losses, the DJIA now stands +1.44% higher on the week.

Elsewhere, U.S. Treasuries of most tenors trade near their opening levels after morning backtracking from highs gave way to a bounce off lows in reaction to the just completed $22 bln 30-yr bond reopening. The reopening met solid demand, as the high yield (4.813%) stopped through the when-issued yield (4.839%) by 2.6 basis points while the bid-to-cover ratio (2.43x) was just above average (2.42x) seen at the previous 12 auctions. Indirect takedown (61.9%) was a bit light relative to average (66.2%) after two days of unusually high foreign interest. All in all, this makes for an encouraging finish to this week's note and bond auction slate, considering there were some concerns that a failed auction is not out of the question this week.