The Dow Jones Industrial Average on Thursday retained its grip on firm late-morning gains as the House passed a Senate-backed budget bill, clearing the way for overhaul of taxes. The budget bill was passed by a narrow margin in a 216-to-212 House vote. The Dow Jones Industrial Average was up by more than 100 points, or 0.4%, at 23,430, the S&P 500 index climbed 0.3% at 2,564 and the Nasdaq Composite Index was up 0.2% at 6,578. The House vote was largely viewed as a procedural but investors have been closely watching legislation around taxes because it is seen by some as helping to power, along with corporate earnings and improved economic results, recent gain in stocks.
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