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Stocks move higher, Nasdaq on pace for best January since 2001

Yahoo Finance's Seana Smith breaks down how stocks are moving on Tuesday afternoon.

Video transcript

[AUDIO LOGO]

SEANA SMITH: Let's get you up to speed on this afternoon's market action as we get ready to wrap up the month of January here, for the markets. And it certainly has been a strong month. On an intraday basis, we're looking at gains of just around 210 points for the DOW. Over the last month, we're looking at gains of just over 2% here. The S&P, still well here to the upside. Over the past month, we're looking at gains of over 5.5%.

Up just about 1% today, but the NASDAQ has certainly been the outperformer over the last several weeks. Looking get gains of just over 10% for the month. The NASDAQ 100, also leading the way today, as we certainly have seen. There's a bit of a reversal, in terms of what investors, what traders are favoring here, this year-- certainly betting on some of those beaten down names that we saw certainly get hammered during the month-- or during the year of 2022.

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Taking a look at some of the trending names here. A big day for earnings. GM, McDonald's-- just some of the names here, reporting earnings. Taking a look at General Motors on an intraday basis, we're looking at gains of just about 7%. Strong results there. Spotify, popping about 12.5%. We'll dig into that in just a little bit. ExxonMobil-- another strong report here from that company ahead of the bell-- up just nearly 2% on the day.

Record profits from Exxon, following in the footsteps of Chevron last week. Taking a look at that sector action on an intraday basis, mostly green on the screen. You're looking at consumer discretionary, leading the way-- up just about 2%. Materials, real estate, not too far behind. The laggard in today's action has certainly been utilities.

I mentioned some of those earnings reports. Let's take a look at, more broadly speaking, the energy sector-- a bit of a mixed picture. But Exxon, certainly the winner today-- up nearly 2%. Chevron, on the other hand, one of the underperformers inside the DOW. You're looking at Chevron off just about a tenth of a percent, Dave.

DAVID BRIGGS: And the White House taking aim at both of them today, Seana. We'll get into that a little bit later on. Thank you.