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News Summary: S&P 500 index at an all-time high

News Summary: S&P 500 index at an all-time high

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IT'S A CELEBRATION: The Standard & Poor's 500 index reached an all-time high Thursday, a day after Washington reached a deal to avoid a U.S. default. The index closed up 11.61 points, or 0.7 percent, to 1,733.15.

EARNINGS LIFT MARKET: The stock market rose as investors got back to focusing on corporate earnings and economic data. American Express and Verizon rose the most in the Dow Jones industrial average after reporting earnings that beat analysts' estimates.

BIG BLUE BLUES: IBM shares dropped $11.90, or 6 percent, to $174.80. The technology giant's revenue fell and missed Wall Street's expectations by more than $1 billion.

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