Stocks Are Falling

Stocks are falling and are currently at session lows.

The Dow is down 108 (0.6%), the S&P 500 is down 15 points (0.8%), and the Nasdaq is down 40 points (0.9%).

Headlines out of Iraq, including a recent report from The Wall Street Journal that said Iran will send forces to fight in Iraq, may be contributing to the recent move lower.

With Iraq still appearing unstable, crude oil prices are higher, as is the price of gold, and bonds have rallied some.

In corporate news, Elon Musk, CEO of Tesla, just announced that the company is making its patents available for fair use. Shares of the electric car-maker have turned negative following the announcement.

Twitter’s COO Ali Rowghani is leaving the company.

Shares of yoga apparel maker lululemon are down more than 15% after the company cut its full year outlook.

In economic news, retail sales for May rose 0.3%, lower than what had been expected, though sales for April were revised up to 0.5% from 0.1%.

Weekly jobless claims rose to 317,000, more than the 310,000 economists had been expecting.

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