Stocks Are Lower But Off Worst Levels
Stocks are lower and the price of gold and oil are higher as the situation in Iraq remains unstable.
The Dow is down 38 points, the S&P 500 is down 3 points, and the Nasdaq is down 20 points.
Gold is trading above $1300 an ounce, more than 2% higher than yesterday, and Brent crude oil is just below $115 a barrel.
President Obama spoke this afternoon regarding the situation in Iraq.
Earlier today, weekly jobless claims were reported at 312,000, roughly in-line with expectations.
The Philly Fed's June business outlook survey came in at 17.8, blowing away expectations for a 14.0 reading. The report also showed that more than 70% of respondents expect an increase in production in the second half of the year.
In corporate news, shares of BlackBerry are rallying after the smartphone maker reported earnings that crushed expectations.
T-Mobile shares are up about 0.6% after the company last night announced it would let users rent an iPhone 5s for free for a week. T-Mobile CEO John Legere then went off on a profanity-laced tirade against AT&T and Verizon