Dow Closes In on 20,000; Rite Aid Shares Slip on Lackluster Results

Stocks fluctuate on Thursday, as investors kept a close eye on the Dow Jones Industrial Average as it nears the symbolic 20,000 threshold.
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Stocks fluctuated on Thursday, as investors kept a close eye on the Dow Jones Industrial Average as it nears the symbolic 20,000 threshold.

The big story was third-quarter gross domestic product, which was revised higher, rising 3.5% on an annualized basis, compared to a previous estimate of 3.2%, per a report released Thursday. Consumer spending rose 3% during the quarter, up from the prior estimate of 2.8%.

Weekly jobless claims rose by 21,000 last week to 275,000, higher than the 256,000 analysts expected. Plus durable goods orders for November fell by 4.6%, while analysts had expected a 4% drop.

Rite Aid (RAD) - Get Report shares fell on Thursday after the drug company reported a 3.4% drop in same-store sales for its most recent quarter. Revenue fell 0.8% year over year to $8.09 billion, missing estimates of $8.2 billion. The company is in the process of merging with Walgreens Boots Alliance (WBA) - Get Report .