The Dow was on pace for a 0.4% weekly gain, while the S&P 500 was up 0.5% so far and the Nasdaq Composite was 0.7% higher through Thursday, according to FactSet. The blame for the Dow being down so much, while the S&P 500 and Nasdaq are rising, can be put on two stocks, those of Honeywell and Salesforce.

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.

U.S. stock indexes are holding relatively steady following a mixed report on the job market that analysts said may not change much for financial markets. The S&P 500 was up 0.2% in early trading Friday and remained on track for a modest gain for the week.