U.S. Stocks End Flat; S&P 500 at 5,839.72, Dow at 41,849.07 as House Passes Trump Tax Bill

U.S. stocks closed nearly flat on Thursday after a volatile session, as Treasury yields eased from recent highs. The session followed a period of volatility driven by concerns over the U.S. government's mounting debt and the fiscal outlook. The easing in yields came after the Republican-controlled House of Representatives narrowly passed President Donald Trump's tax and spending bill, which is projected to increase the U.S. debt by $3.8 trillion over the next decade, raising the total to $36.2 trillion. Moody's recent downgrade of the U.S. credit rating has added to concerns about the nation's fiscal health. The S&P 500 ended down 0.08% at 5,839.72 points, the Dow Jones Industrial Average slipped 0.03% to 41,849.07, while the Nasdaq Composite rose 0.27% to 18,923.23. Eight of the eleven S&P 500 sectors closed lower, led by declines in utilities, healthcare, energy, and consumer staples. Growth stocks in the technology and communication sectors, including Nvidia, Amazon, Tesla, and Alphabet, posted gains. Alphabet rose 1.3%, Apple fell 0.36%, Snowflake climbed over 13%, Analog Devices dropped 4.6%, and First Solar declined 4.3%. Longer-dated Treasury yields, such as the 30-year bond, retreated from a 19-month high of 5.161% to around 5.048% by Friday, but remained up 15 basis points for the week. The 10-year Treasury yield fell 5.4 basis points to 4.543%. In Asia, shares advanced modestly as Treasuries stabilized and U.S. fiscal concerns moderated. Other markets saw gold prices at $3,305.04 to $3,317 an ounce, and Bitcoin holding near record highs at $110,796 to $111,538.12. Oil prices declined for a fourth straight session, with U.S. crude futures at $60.77 to $60.89 a barrel.