NEW YORK -- The stock market hit an all-time high Thursday as Wall Street put the government shutdown and debt ceiling crisis behind it and focused on corporate earnings.
The Standard & Poor's 500 index rose 11.61 points, or 0.7 percent, to finish at 1,733.15 -- a record close. Nine of the 10 industry groups in the index finished higher, with technology the only group that fell.
The Dow Jones industrial average ended the day down two points, or 0.01 percent, to 15,371.65. The index of 30 big U.S. companies was held back by declines in IBM, Goldman Sachs and UnitedHealth.
IBM's third-quarter revenue fell and missed Wall Street's forecast by more than $1 billion. The stock closed down $11.90, or 6 percent, to $174.80.
Goldman Sachs also weighed down the index. The investment bank's revenue fell sharply as trading in bonds and other securities slowed. Goldman fell $3.93, or 2.4 percent, to $158.32.
The focus on earnings is a change of pace for Wall Street, which had been absorbed in Washington's political drama over the last month.
Now that the U.S. has avoided the possibility of default, at least for a few months, earnings news is expected to dominate trading for the next couple weeks. So far, only 79 companies in the S&P 500 have reported third-quarter results, according to S&P Capital IQ. Analysts expect earnings at those companies to increase 3.3 percent over the same period a year ago.
Other indexes also posted noticeable gains. The Nasdaq composite closed up 23.71 points, or 0.6 percent, to 3,863.15.
The Russell 2000 index, which is made up of primarily smaller, riskier companies, also hit an all-time high. It closed up 9.85 points, or 0.9 percent, to 1,102.27 and has risen nearly 30 percent this year.