Afternoon Market Update (TXN, IBM, C)

US tech stocks moved up today due to scheduled release of earnings after the markets close. Texas Instruments Inc TXN and IBM Corp IBM are the leading gainers as both the companies are set to announce their quarterly results today. Moody's Investors Services has upgraded the stand-alone bank financial strength rating outlook for Citigroup Inc C from “negative” to “stable.” The upgrade in rating was "based on the company's strengthened capital position and improved risk profile." Moody's Investors Services has also upgraded the hybrid securities rating for the company from “negative” to “stable.” Moody’s upgraded these ratings "because they are linked to the company's stand-alone financial strength rating." In early market trading, US Treasury prices moved down to some extent, while the US dollar widened its losses following a fall in the National Association of Home Builders/Wells Fargo housing market index to 14 in July, as compared to 16 in June. However, by 1:28 pm, the dollar index (DXY) moved up 0.11% and the yields on 10-year notes gained 0.68%. Read more from Benzinga's Markets.