Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+2.55%) is in second place on Wednesday afternoon, up about 1187 points.

A look inside the DJIA shows that Sherwin-Williams (SHW 335.62, +21.66, +6.90%), Caterpillar (CAT 766.93, +42.49, +5.87%), and Home Depot (HD 335.25, +16.48, +5.17%) show solid gains.

Meanwhile, Chevron (CVX 190.40, -111.14, -5.53%) slides to the bottom of the average.

The DJIA now stands +2.72% higher week-to-date.

Elsewhere, U.S. Treasuries have pulled back from their morning highs, giving back roughly half of their gains. The intraday pullback has developed in steady fashion while equities have sustained their big opening gains, remaining not far from their starting levels. Treasuries remain at their intraday lows in immediate reaction to today's $39 bln 10-yr note reopening, which met weak demand. The sale drew a high yield of 4.282%, tailing the when-issued yield by 0.2 basis points, while the bid-to-cover ratio (2.43x vs 2.52x) and indirect takedown (65.3% vs 71.3% average) were below average.