Thursday’s session closed out in the red zone. Stocks such as Cisco, Intel, and JPMorgan Chase traded lower today on Wall Street. The market managed a turnaround, however, following news of the Supreme Court decision to uphold President Obama’s health care legislation. Meanwhile, data on first-quarter gross domestic product was less than impressive. The Commerce Department said growth in real GDP slowed to 1.9%, down from 3% in the fourth quarter of 2011. Elsewhere, the Labor Department said initial jobless claims declined by 6,000 to 386,000 last week. The prior week’s numbers were revised from 387,000 to 392,000.
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