Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average   ended higher in a partial rebound from the previous session.
  • Amazon.com Inc. (AMZN  reached an agreement to acquire online pharmacy PillPack. 
  • Walgreens Boosts Alliance Inc. (WBA  fell 9.5% after the Amazon news and despite third-quarter earnings and sales topping analysts' expectations.

Wall Street Overview 

Stocks ended higher on Thursday, June 28, as investors continued to count the cost of trade tariffs and protectionism among the world's biggest economies.

Sentiment was soured a bit by signals that growth was starting to slow because of the tit-for-tat trade wars that have escalated since early March, and a statement from Donald Trump's top economic adviser that Trump was "not retreating" in his approach to trade with China.

The Dow Jones Industrial Average  rose 98 points, or 0.41%, to 24,216, the S&P 500  rose 0.62% and the Nasdaq  gained 0.79%.

First-quarter GDP growth in the U.S. was revised lower to 2% from 2.2%, reflecting weaker consumer spending. Economists had expected the final estimate of first-quarter U.S. economic growth to come in at 2.2%.

Amazon.com Inc. (AMZN said Thursday it reached an agreement to acquire online pharmacy PillPack. Terms of the agreement weren't disclosed. Amazon rose 2.5%.

The deal hit the stocks of drugstore chains, such as Walgreens Boots Alliance Inc.  (WBA , CVS Health Corp. (CVS and Rite Aid Corp. (RAD

"This acquisition could be the launchpad for the long-feared broader entry of Amazon into retail pharmacy space, just months after news reports had brought some relief that Amazon was not ready yet to enter drug distribution," said Evercore ISI analyst Ross Muken in a note on Thursday.

Walgreens, meanwhile, posted fiscal third-quarter adjusted earnings of $1.53 a share, well ahead of Wall Street forecasts of $1.48. Sales rose 14% to $34.3 billion, with the bulk of coming from the company's American retail pharmacy division.

Amazon also rolled out a program that lets entrepreneurs around the country launch businesses that deliver Amazon packages.

In a statement, Amazon said it would take an "active role" in helping entrepreneurs start, set up and manage their own delivery business. According to Amazon, successful owners can earn as much as $300,000 in annual profit operating a fleet of up to 40 delivery vehicles.

Amazon is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AMZN? Learn more now.

Chipotle Mexican Grill Inc. ( CMG fell 6.6% after the burrito chain said Wednesday it would close up to 65 stores and incur restructuring costs of $115 million to $135 million.

The company also laid out plans for easier-to-understand digital ordering and faster moving lines at restaurants, including clearly marked pick-up shelves.

Chipotle's CEO Brian Niccoll told TheStreet's Executive Editor Brian Sozzi that moving faster on digital was key to unlocking the company's growth potential.

Meanwhile, the company's digital push -- and that of others like McDonald's Corp.  (MCD -- would hurt pizza delivery companies such as Domino's Pizza Inc.  (DPZ

Madison Square Garden Co. (MSG rose 14.2% after the company said it would examine spinning off its sports businesses - which include the New York Knicks and New York Rangers - from its concert-hosting and entertainment-venue operations.

Apple Inc. (AAPL is considering creating a single subscription offering that would encompass its original TV shows, music service and magazine articles, two people familiar with the company's plans told The Information. Shares rose 0.75%.

Apple is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.

Expert Advice for a Risky Market. We asked top experts from Bank of America, Fisher Investments, Invesco and Wells Fargo what smart investors should do right now. Click here and register for free to watch what these market watchers recommend.