Stocks Opened Lower after Soft Data

U.S. stocks opened lower on Thursday after soft data on retail sales and jobless claims. The Dow Jones Industrial Average lately fell 27.70 points, or 0.16%, to 16,816.18. The S&P 500 was down 3.75 points, or 0.19%, to 1,940.14. The Nasdaq Composite lost 15.32 points, or 0.35%, to 4,316.61.

U.S. retail sales rose less than expected in May and first-time applications for unemployment benefits increased last week. The Commerce Department said on Thursday retail sales gained 0.3 percent last month. While that was below economists’ expectations for a 0.6 percent rise, April’s retail sales were revised to show a 0.5 percent increase.

In a separate report, the Labor Department said initial claims for state unemployment benefits climbed 4,000 to a seasonally adjusted 317,000 for the week ended June 7.

Oil prices hit a three-month peak on Thursday on worries escalating violence in Iraq may disrupt supply. Brent futures jumped more than $2 to $112.29 a barrel, the highest since early March.

Lululemon Athletica’s reported quarterly results that edged past expectations on Thursday. On a net basis, profit in the fiscal first quarter ended May 4, fell to $19 million, or 13 cents per share, down from $47.3 million, or 32 cents per share, a year earlier.