Investing.com – Wall Street was mixed on Thursday after disappointing economic data and news that Amazon (NASDAQ:AMZN) was buying an online pharmacy.
The S&P 500 gained three points or 0.11% to 2,702.68 as of 9:39 AM ET (13:39 GMT) while the Dow composite decreased 17 points or 0.07% to 24,100.40 and tech heavy NASDAQ Composite rose over 13 points or 0.18% to 7,458.46.
Stock prices were weighed down by disappointing economic data as the U.S. economy slowed more than previously estimated. Gross domestic product expanded at a 2.0% annual rate in the first three months of 2018, instead of the previously reported 2.2% pace, the Commerce Department said in its third GDP estimate.In a separate report, the number of individuals filing for initial jobless benefits increased by 9,000 to 227,000.
Amazon was among the top gainers, after the online retail giant said it was buying online pharmacy PillPack. Drug retailers were down after the news, with Walgreens Boots Alliance Inc (NASDAQ:WBA) falling 9.36% and CVS Health Corp (NYSE:CVS) slumping 9.49%.
Meanwhile Accenture plc (NYSE:ACN) rose 4.22% after its financial results beat estimates, while Tesla (NASDAQ:TSLA) rose 1.31% and Nike (NYSE:NKE) gained 0.46%.
Elsewhere Facebook (NASDAQ:FB) fell 1.11% while Starbucks (NASDAQ:SBUX) decreased 1.36% and Pier 1 Imports Inc (NYSE:PIR) lost 21.17% after its sales results came in lower than expected.
In Europe stocks were down. Germany’s DAX fell 165 points or 1.34% while in France the CAC 40 decreased 51 points or 0.96% and in London, the FTSE 100 was down 22 points or 0.30%. Meanwhile the pan-European Euro Stoxx 50 lost 27 points or 0.80% while Spain’s IBEX 35 slumped 49 points or 0.51%.
In commodities, gold futures fell 0.20% to $1,253.60 a troy ounce while crude oil futures rose 0.21% to $72.91 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched down 0.08% to 94.94.