04:39 PM EDT, 05/22/2025 (MT Newswires) -- US benchmark equity indexes closed mixed on Thursday, as President Donald Trump's tax bill moves to the Senate after it was cleared by the US House of Representatives.

The Nasdaq was up 0.3% to 18,925.73, while the S&P 500 slightly fell to 5,842.01. The Dow Jones Industrial Average was unchanged at 41,859.09. Among sectors, consumer discretionary posted the largest gain while utilities saw the steepest decline.

US Treasury yields were lower, with the 10-year rate decreasing 5.6 basis points to 4.55% and the two-year rate dropping 2.1 basis points to 4.01%.

July West Texas Intermediate crude oil decreased 1.2% to $60.81 a barrel on Thursday.

The Republican-led House passed the tax bill in a 215-214 vote early Thursday, sending it to the Senate where it's likely to face "a complicated path," Stifel said in a note.

The bill includes "massive tax cuts, no tax on tips, no tax on overtime, (and) tax deductions when you purchase an American-made vehicle," Trump said in a social media post. "Now, it's time for our friends in the (US) Senate to get to work, and send this bill to my desk as soon as possible!"

In economic news, US existing home sales unexpectedly fell in April as prices reached a record high for the month, according to data released by the National Association of Realtors.

In the coming months, sales are expected to drop further amid "softening economic activity and affordability constraints," worsened by increasing mortgage rates, Oxford Economics said. "Softening demand and the increase in supply may put some downward pressure on home price growth, but we aren't seeing much evidence of that yet, at least at the national level."

In company news, cryptocurrency exchange Coinbase Global's ( COIN ) shares were up 5%, the top gainer on the S&P 500.

Kraken, the cryptocurrency exchange, intends to allow non-US customers to trade popular stocks like Nvidia ( NVDA ) , Apple ( AAPL ) and Tesla (TSLA) as tokens over a digital ledger, The Wall Street Journal reported Thursday. Shares of Nvidia ( NVDA ), Apple ( AAPL ) and Tesla were up 0.8%, down 0.4% and up 1.9%, respectively.

Seagate Technology ( STX ) shares rose 4.2% after its board approved the repurchase of up to $5 billion of its shares.

Shares of solar companies were down substantially after the tax bill that passed the US House included cuts to key clean energy credits, according to media reports. SunRun ( RUN ) , Enphase (ENPH) and SolarEdge Technologies ( SEDG ) shares were down 37%, 18% and 25%, respectively.

Gold decreased 0.6% to $3,294 per troy ounce, while silver was down 1.3% to $33.23 per troy ounce.