Stock Market Update
26-Aug-26 13:30 ET
Dow Leads Declines as Nike, IBM, Goldman Sachs Underperform
Dow -113.10
at 53464.30,
Nasdaq -51.06
at 26121.28,
S&P -4.01
at 7673.27
[BRIEFING.COM] The Dow Jones Industrial Average (-0.21%) is in last place on Wednesday afternoon, down about 113 points.
A look inside the DJIA shows that Nike (NKE 38.61, -0.87, -2.20%), IBM (IBM 229.97, -4.22, -1.80%), and Goldman Sachs (GS 1041.22, -17.66, -1.67%) are underperforming.
Meanwhile, Honeywell (HON 219.73, +4.05, +1.88%) is today's top gain getter.
The DJIA is +0.35% higher week-to-date.
Elsewhere, recent action saw the 10-yr note and shorter tenors slip past their morning lows while the long bond remains a touch above its worst level of the day. Overall, intraday action has been confined to the downside after the complex retreated from opening highs in response to today's batch of economic data. Treasuries have held at their lows in immediate reaction to the just completed $70 bln 5-yr note offering, which drew weaker demand than yesterday's 2-yr note sale, though it was not bad. Today's auction drew a high yield of 4.393%, tailing the when-issued yield by 0.2 bps, while the bid-to-cover ratio (2.37x vs 2.38x average) and indirect takedown (61.5% vs 63.7% average) were a touch below average. This week's note auction slate will be capped off with a $44 bln 7-yr note offering tomorrow.
