Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (+1.11%) is in second place on Wednesday afternoon, up 547 points.

A look inside the DJIA shows that Goldman Sachs (GS 973.83, +45.09, +4.85%), Nike (NKE 44.07, +1.65, +3.89%), and Boeing (BA 222.16, +7.15, +3.33%) hold firm atop the average.

Meanwhile, Chevron (CVX 193.33, -3.92, -1.99%) is underperforming.

The DJIA is about +0.78% higher on the week.

Elsewhere, U.S. Treasuries continue hovering just below session highs that were notched about two hours ago, thanks in part to a deepening of the pullback in the price of oil, which is now back below $98/bbl. The Treasury complex remains just shy of today's highs in immediate reaction to today's $16 bln 20-yr bond auction, which met good demand. The sale drew a high yield of 5.122%, which was right on the screws while the bid-to-cover ratio (2.55x vs 2.64x average) was below average. Indirect takedown (67.7%), however, was above average (64.4%).