The major U.S. stock indexes close out an upbeat trading month ahead of the Federal Reserve's decision.
The S&P 500 added 6.2% in January. Eight of the index's 11 sectors rose in January, with consumer staples, health care and utilities the exceptions.
The Dow industrials rose 2.8%, or 939 points.
The Nasdaq Composite finished the month up 11%, logging its best start to a year since 2001.
All three indexes are up in three of the last four months.
In yields:
The two-year Treasury yield fell 0.192 percentage point in January, its largest one-month decline since March 2020, to finish the month at 4.207%.
The 10-year yield fell 0.299 percentage point in January, ending the month at 3.527%.
In oil markets:
Brent crude, the global oil benchmark, retreated 1.7% in January to finish the month at $84.49 a barrel. The front-month futures contract has fallen for three straight months, according to Dow Jones Market Data, and six of the past eight.
WTI, its U.S. counterpart, fell 1.7% in January to finish the month at $78.87 a barrel.
In metals:
Front-month gold for February delivery rose 6% in January to finish at $1929.50 per troy ounce, its third consecutive monthly gain. That adds up to a three-month gain of about 18%, its best three-month percentage increase since 2011. Silver finished the month up 0.5% at $23.75 per troy ounce.
Copper rose 11% in January to finish the month at $4.2285 per pound, marking its best one-month percentage gain since April 2021.
In currencies:
The WSJ Dollar Index fell 1.5% in January, its fourth consecutive monthly retreat.
The euro gained 1.5% against the U.S. dollar.