Mumbai, May 23 -- The Nasdaq rose 53.09 points or 0.3 % to 18,925.73, the Dow edged down 1.35 points or less than a tenth of a % to 41,859.09 and the S&P 500 slipped 2.60 points or less than a tenth of a % to 5,842.01.

Stocks initially wavered but gained ground as the day advanced, buoyed by easing treasury yields. Yields had surged on fears over the fiscal impact of a Republican-backed tax cut bill, which passed the House earlier. Though the bill stirred optimism in some corners, concerns mounted over its potential to significantly deepen the national deficit. President Trump hailed it as historic, urging swift Senate approval.

The Labor Department reported a slight and unexpected dip in first-time U.S. unemployment claims, falling to ...