Markets Close Lower After Weak 3Q GDP Data

A weak report on third quarter growth meant the markets didn't stand a chance Thursday. Even though all the major averages closed in the red, the losses were pretty shallow. With one trading day left in October, the major averages are still firmly on track for their best monthly performance in four years.

Continue Reading Below

The coffee went stale for Starbucks in the third quarter. While the coffee giant beat on earnings estimates, shares fell 3% after hours, even with global sales seeing an 8% growth. Chinese coffee lovers are scaling back on the pricey lattes.

The world's largest online retailer, Amazon (NASDAQ:AMZN), rallied to an all-time high Thursday, hitting $627 for the first time. While there was no particular news, the stock has been on a roll since reporting a surprise 3Q profit last week.

Two big earnings losers Thursday - GoPro (NASDAQ:GPRO) and Buffalo Wild Wings (NASDAQ:BWLD). Action camera hipster company GoPro tumbled to an all-time low and the popular wings spot hit a new 52-week low. Both  missed quarterly expectations.