U.S. stocks ended mixed Thursday as markets digested the House’s narrow approval of President Trump’s massive tax-and-spending package.
The S&P 500 dipped 0.04%, the Dow Jones Industrial Average was flat, and the Nasdaq Composite rose 0.28%.
The legislation—projected by the Congressional Budget Office to add nearly $4 trillion to the federal deficit—includes sweeping tax cuts and increased military spending.
It passed the House by a single vote after last-minute revisions, including expanded deductions for state and local taxes, aimed at swaying conservative lawmakers. The bill now heads to the Senate.
Another spike in Treasury yields tempered investor sentiment. The 30-year bond briefly rose above 5.16%—its highest level since 2023—before easing.
