The market opened with some trepidation this morning which is natural after such a monster move yesterday.

The Nasdaq saw a nice rebound that coincided with a comeback effort from mega-cap names, led primarily from Alphabet (GOOG/L) and Nvidia (NVDA), which hit a new all-time high today.

Technology and Health Care are the only winners this afternoon.

The 3-year note auction was released at 1pm ET (more details below). The auction caused a pullback in yields.

• The high yield of 4.105% was 11 basis points (bps) below when issued.
• Close to 15% allocated at the high
• Bid-to-cover ratio of 2.67

Everyone will be paying attention to tomorrow’s 10-year note auction.