Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.26%) is once again today's lagging major average, down 131 points as investors rotate into technology stocks once more.

A look inside the DJIA shows that Salesforce (CRM 165.26, -6.05, -3.53%), Home Depot (HD 300.71, -9.75, -3.14%), and IBM (IBM 213.41, -5.81, -2.65%) are underperforming.

Meanwhile, 3M (MMM 147.68, +4.47, +3.12%) holds firm atop the average.

The DJIA is now +0.04% higher week-to-date.

Elsewhere, U.S. Treasuries hover just below their opening levels after rising off their mid-morning lows alongside some recent relief in the price of oil. Today's early selling briefly lifted yields on the 10-yr note and shorter tenors past their highs from late March, but they have dipped back below those levels. The market could be in for some selling during the last couple hours of trade after the U.S. Treasury completed this week's trifecta of disappointing auctions with a weak sale of $25 bln in 30-yr bonds. The auction drew a high yield of 5.046%, which tailed the when-issued yield by half of a basis point while the bid-to-cover ratio (2.30x) was below average (2.39x). Indirect takedown (66.6%) exceeded the prior 12-auction average (64.2%) making for a silver lining.