Stocks end higher as debt-ceiling worries fade

CORRECTION: Updates to correct percentage move for Dow Jones Industrial Average.

Stocks finished higher Thursday, finding relief a day after the House passed debt-ceiling legislation. The deal still needs to clear the Senate, but the House was seen as its toughest hurdle, putting the legislaiton on track to reach President Joe Biden's desk in coming days and allowing the U.S. government to avoid default. Investors weighed mixed data on jobs while awaiting Friday's release of a May employment report. Expectations for a June rate hike by the Federal Reserve have faded after policy makers this week indicated the potential to skip an increase when they meet later this month. The Dow Jones Industrial Average rose around 154 points, or 0.5%, according to preliminary data, while the S&P 500 rose 1% and the Nasdaq Composite advanced 1.3%.