U.S. stocks rose on Thursday, erasing initial declines, as Treasury yields eased off recent highs after the House of Representatives passed U.S. President Donald Trump's tax and spending bill. Recent concerns about the U.

Eastern time, the S&P 500 rose 0.1%, the Dow Jones Industrial Average was up 0.1%, and the Nasdaq Composite was 0.5% higher.

Wall Street slumped under the weight of pressure from the bond market, where Treasury yields climbed on worries about the U.S. government’s spiraling debt and other concerns.