preCharge News BUSINESS — Stocks ticked higher on Thursday, as investors tried to shake off fears of rising rates and worries about a ballooning U.S. deficit. The 30-year Treasury yield hit its highest since October 2023 on Thurs as lawmakers passed a bill that investors fear could worsen the U.S. deficit.

The Dow Jones Industrial Average added 220 points, or 0.5%. The S&P 500 rose 0.5%, while the Nasdaq Composite advanced 0.9%.

In a party line vote early Thursday, House members approved the bill that includes lower taxes and additional military spending. The bill — which now goes to the Senate — could increase the U.S. government’s debt by trillions and raise the deficit at a time when fears of a flare-up in inflation due to Trump tariffs are already weighing on bond prices and boosting yields. The Congressional Budget Office puts the price tag for bill at nearly $4 trillion.