The stock market is closing at an all-time high a day after Washington reached a deal to avoid a U.S. default.
The Standard & Poor’s 500 stock index rose 11 points to close at 1,733 Thursday, beating its previous closing high of 1,725 reached Sept. 18.
The Dow Jones industrial average failed to match that success. The Dow fell two points to close at 15,371, held back by declines in IBM, Goldman Sachs and UnitedHealth, which issued results that disappointed investors. It remains 305 points below its own record close.
The Nasdaq composite rose 23 points to 3,863.
(AP)
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Printing money inflates stock prices, and the agreement on the budget guarantees continued liberal printing of money.
It is a sign of illness, not prosperity. The dollar fell against foreign currencies and against gold, which is more significant.