The Dow added more than 360 points on Tuesday, while the S&P 500 and Nasdaq 100 almost gained 1.5% and 1.7%, respectively, as investors digested a batch of economic data and earning results in the busiest week of earnings season. On the economic front, the growth in US labor costs slowed down in December, indicating that the Federal Reserve's aggressive approach to tame inflation will most likely ease on Wednesday. General Motors jumped almost 8% on its firm earnings report and Pfizer added 1.4% amid its weak 2023 outlook, while Caterpillar missed estimates and dipped 3.5%. Meantime, PayPal went up 2.3% after it planned to cut 2,000 jobs. In January, the Nasdaq 100 rallied 11.5%, while the S&P 500 and Dow were up 6.6% and 2.9%, respectively, marking their third positive month.