The Dow logged its best start to the year in almost two decades, despite a down day to close the month.
The Dow Jones industrial average ended the month up 5.8 percent, its strongest January since 1994, according to S&P Capital IQ data. Stocks rallied after U.S. lawmakers reached a deal to avoid the "fiscal cliff" and then pushed toward record levels as optimism about the housing market recovery grew."There's not a whole lot of bears left here," said Jeff Hirsch, editor of the Stock Trader's Almanac. He predicted that the market may struggle to gain more in February.On Thursday, stocks drifted lower as investors digested more earnings results and reports on the economy, with the Dow losing 49 points.UPS, the world's biggest package-delivery company, fell 2.4 percent to $79.29 as its fourth quarter was hurt by weak global trade.Under Armour gained $2.74, or 5.7 percent, to $50.87, after the company said its fourth-quarter earnings jumped 10 percent. -- The Associated PressHave more to add? News tip? Tell us
