Click for more market data. NEW YORK (CNNMoney)
The Dow Jones industrial average, the S&P 500 and the Nasdaq were all down around 0.3% in midday trading. The Dow dropped more than 100 points on Wednesday after the World Bank lowered its outlook for global economic growth and House Majority Leader Eric Cantor lost his re-election bid.
Now the focus is Iraq.
Investors watch Iraq: Oil prices jumped more than 1% this morning after Islamist militants in Iraq took control of the nation's second-largest city. Crude futures on the New York Mercantile Exchange were trading above $106 per barrel, a high not seen since Sept. 2013.
The brazen attack by fighters from a group called ISIS is making commodity traders nervous as they consider how the turmoil could affect the country's large oil-producing areas.
While the fighting in Iraq probably won't derail the market, "It is enough to trigger some position-trimming and a pause," said Kit Juckes, a strategist at Societe Generale.
Related: Oil prices spike as Iraq violence flares
Latest economic news: The government said retail sales rose 0.3% in May, falling short of what economists had forecast. Separately, the number of Americans filing first-time unemployment claims rose more than expected, according to the Labor Department's weekly report.
Still, many are likely to be more interested in the World Cup, which begins at 4 p.m. ET. The tournament in Brazil is expected to be the most watched sporting event ever, and Americans are becoming increasingly interested in the game.
Related: Fear & Greed Index still shows extremely greed
What's moving -- Yoga, Tesla and furniture: Shares of Lululemon (LULU) plunged nearly 15% after the maker of yoga apparel lowered its earnings outlook for this year. The company's board also approved a plan to buy back $450 million worth of stock, but that didn't appear to be helping much.
Lululemon also announced that chief financial officer, John Currie, will retire at the end of this fiscal year. On Wednesday, Chip Wilson, the yogawear company's founder and largest shareholder, said he voted against the re-election of two of the company's board members.
The selloff raised speculation on StockTwits that Lululemon could be a takeover target. But one trader said the stock will need to fall further before a sale would make sense.
"$LULU needs to be back in the 20's for it to be even remotely interesting as a buyout candidate. $6B simply too much for a yoga pant maker," read a post by AgentZero. Shares were trading around $38 on Thursday.
Shares of Tesla Motors (TSLA) gained after CEO Elon Musk said on Twitter that "some news" about the company would be coming soon.
Restoration Hardware (RH) shares soared almost 13% after the company reported earnings that beat analyst expectations. It's the latest luxury brand benefiting from increased consumer spending at the high end.
Tech stocks shuffle as key executives move around: Twitter (TWTR, Tech30) shares jumped over 4% after the social media company said its chief operating officer, Ali Rowghani, had resigned. Twitter has struggled -- it's down over 41% this year -- but several analysts upgraded the stock this week.
Infosys (INFY) slid on news that a new CEO was appointed to lead the IT services company.
Related: CNNMoney's Tech30
European markets ended narrowly mixed. Asian markets mostly closed with losses, though Indian markets were buoyant.
First Published: June 12, 2014: 10:03 AM ET
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