After starting off 2013 on a hot streak after lawmakers were able to avoid the dire consequences of the fiscal cliff, markets began the week by cooling down a bit. A day before Alcoa (NYSE:AA) was set to kick off earnings season, the Dow Jones Industrial Average (DJINDICES:^DJI) took a breather, falling 50 points, or 0.38%, to close at 13,384.
McDonald's (NYSE:MCD), boasting a 3.4% dividend yield, rose 1.2% today to lead the Dow. On a down day, investors may see the fast food mainstay as a safe bet, especially considering its impressive yield. It didn't hurt that Sterne Agee reiterated a $101 price target and "buy" rating on the stock, citing a possible national rollout of its new chicken wings in the future.
Skidding 2%, Boeing (NYSE:BA) didn't have such a great day. And understandably so. A fire erupted on a Boeing 787 Dreamliner at Logan International Airport in Boston. Thankfully, passengers had already disembarked, and nobody was hurt. Still, the plane had only been in service for under a month, and safety remains a top concern for Boeing investors, executives, and customers alike.
Bank of America (NYSE:BAC) was in the middle of two different settlements with governmental organizations today regarding sketchy lending practices that led up to the financial crisis. The largest and most specific to the Charlotte, NC-based bank was the $11.6 billion settlement it reached with Fannie Mae. The bank was also one of 10 institutions that agreed to pay a total of $8.5 billion to borrowers suffering from questionable mortgage and foreclosure processes several years back.
Elsewhere, in the world of tech, investors were decidedly bullish on Facebook (NASDAQ: FB) shares today, as they rose 2.3%. With hopes set high for the year ahead after a disappointing 2012, the stock has torn it up recently, rising a remarkable13.6% in the last five days of trading. Investors are optimistic about the social networker's improving mobile presence, which has been one of the most nagging questions concerning the company's future since its IPO.
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