Wall Street is riding high thus far in 2013 (Creative Commons/Benjamin Dumas)

Overall, the Dow has risen 7 percent since the start of the year and last month was the best January for the Dow in two decades. 

The rise is partially attributed to Congress reaching a "fiscal cliff" deal that staved off new taxes for most Americans and an overall strengthening U.S. economy, including more jobs. Consumer spending also was cited as a reason for the uptick, with luxury clothing company Michael Kors doing far better than expected on Tuesday.

President Obama is expected to make the economy one of the key themes of in his State of the Union address Tuesday evening.

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