Wall Street closes lower

US stocks have closed lower for a second day as investors analysed mixed economic data and a rise in violence in Iraq.

US stocks have closed lower for a second day as investors analysed mixed economic data and a rise in violence in Iraq.

At the closing bell, the Dow Jones Industrial Average fell 109.69 points, or 0.65%, to 16,734.19.

The broad-based S&P 500 yielded 13.78 points, or 0.71%, to 1,930.11, while the tech-heavy Nasdaq Composite Index slipped 34.30 points, or 0.79%, to 4,297.63.

The first piece of significant US data released this week presented a mixed view on the economy as retail sales climbed 0.3% in May. On the positive side this represented the third straight month of expansion and came as the Commerce Department upgraded its April reading from 0.1% growth to 0.5%.

However, the number was still shy of forecasts for a lift of 0.7% in May.

Elsewhere, US jobless claims rose 4,000 on last week, though they remain at levels near five-year lows.

Meanwhile, oil prices jumped 2% as militants seized two Iraqi cities, offering another geopolitical issue for markets to mull.

"Developments in Iraq will remain a focal point and a festering source of concern since they are a new development on the geopolitical front," Briefing.com analyst Patrick O'Hare said.

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