Industrial company 3M ( MMM 1.15%) was the index's top performer in January with a 17.9% gain. Part of the stock's movement came after the company reported fourth-quarter results. Adjusted sales, which remove acquisitions/sales and foreign currency effects, grew 2.1% compared to a year ago. Diluted earnings per share fell 1.2% to $1.68.

Palantir spiked Tuesday, leading a tech rally, but it's still a roller-coaster market. Google dived on mixed earnings.