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Stocks slip in morning trading; oil prices surge

Stocks edged lower Thursday morning after a report showed that retail sales rose less than forecast in May while the price of oil surged amid renewed violence in Iraq. The Dow Jones industrial average fell 45 points, or 0.3%, to 16,798 as of 11:14 a.m. Eastern time. The Standard & Poor's 500 was down five points, or 0.3%, to 1,938. The Nasdaq slipped 12 points, or 0.3%, to 4,319. U.S. retail sales rose for a fourth straight month in May, but the growth was slightly below economists' forecasts. The Commerce Department said consumer spending rose 0.3% last month, helped by a surge in auto demand, but shy of the 0.4% increase that economists expected. The Labor Department...

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