U.S. stocks rose and the dollar edged higher against a basket of major currencies on late Thursday after the U.S. House of Representatives passed its version of a tax overhaul bill. After five consecutive daily losses, the MSCI index of world stocks was up 0.8 percent, helped by U.S. stocks, which extended gains following the House vote. The Nasdaq hit a record high. Stocks were already higher on earnings-related gains in Wal-Mart and Cisco. The House approved a broad package of tax cuts affecting businesses, individuals and families, moving Republicans and President Donald Trump an important step closer to the biggest tax code overhaul in a generation. The dollar index, which hit 93.813 on Wednesday, its lowest since Oct. 20, was also boosted by a general improvement in risk appetite across financial markets. In late trading, the Dow Jones Industrial Average was up 192.29 points, or 0.83 percent, to 23,463.57, the S&P 500 gained 21.77 points, or 0.85 percent, to 2,586.39 and the Nasdaq Composite added 91.73 points, or 1.37 percent, to 6,797.94. Oil prices edged lower for a fifth day as rising U.S. production and inventories threatened to undermine a rally sparked by tightening world supply as a consequence of OPEC's curbs on output. U.S. crude fell 19 cents to settle at $55.14 a barrel while Brent crude declined 51 cents to settle at $61.36.