Stock Market Update

[BRIEFING.COM] The major averages have continued adding to their strong initial gains, with the S&P 500 now up nearly 2.0% while the Dow (+1.5%) underperforms, continuing this month's trend.

Today's underperformance in the Dow comes as a couple highly-priced components—McDonald's (MCD 314.31, -0.26, -0.1%) and UnitedHealth (UNH 293.31, -2.26, -0.7%)—sit out the rally. However, top component Goldman Sachs (GS 614.30, +15.76, +2.6%), Microsoft (MSFT 458.60, +8.42, +1.9%), and Home Depot (HD 369.94, +7.23, +2.0%) sport solid gains.

Like stocks, Treasuries have added to their gains leading up to today's $69 bln 2-yr note sale. The 2-yr yield is down three basis points at 3.97% while the 10-yr yield is down eight basis points at 4.43%.