Boeing shares are showing signs of a potential turnaround after a historic losing streak, with the stock up around 1% on Tuesday. The aerospace company had experienced 11 consecutive days of losses, marking one of its longest losing streaks. However, the recent uptick in share price suggests that Boeing may be breaking out of its downward trend.
In April alone, Boeing shares have declined by more than 12%, contributing to a year-to-date decrease of around 35%. Despite these challenges, the recent positive movement in the stock price is offering hope to investors that the worst may be over for Boeing.
On the other hand, Planet Fitness saw its stock slip nearly 4% after announcing Colleen Keating as the new CEO. Keating, who previously served as the chief executive of FirstKey Homes, will take over the role on June 10. Despite the stock pullback, analysts remain optimistic about the leadership change at Planet Fitness.
In other news, Federal Reserve Chair Jerome Powell indicated that interest rates may need to remain elevated due to the ongoing battle against inflation. Powell highlighted the lack of progress in bringing down price growth this year, suggesting that monetary policy may need to stay in place to address the issue.
Overall, the stock market is experiencing a mix of ups and downs, with some sectors outperforming while others struggle. As investors navigate through these challenges, the latest developments in the market continue to shape the investment landscape.
