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News Summary: IBM lifts Dow to a 5-year high

The Associated Press

BIG BLUE: IBM single-handedly lifted the Dow Jones industrial average to a five-year high Wednesday. The tech giant's quarterly earnings beat Wall Street's expectations, thanks to its lucrative Internet-based "cloud" computing business and sales of software services.

SAVE THE DATE: The House of Representatives passed a bill to suspend the government's borrowing limit until May 19. House Republicans had previously said they would use the debt ceiling as a bargaining chip to push for deeper spending cuts.

FINAL SCORE: The Dow Jones industrial average rose 67 points to close at 13,799, the highest level since Oct. 31, 2007.