The Pre-Market Rundown 2: May 10, 2024
Wall Street is set to continue its rally at the open after stocks rose yesterday, with the Dow claiming a 7th winning day as new jobless claims data rekindled hope for Federal Reserve rate cuts later this year. the US Securities and Exchange Commission is investigating Boeing over statements made about its safety practices after a mid air panel blow out on a 737 Max flight in January. Bloomberg News reports that the SEC will examine whether the plane maker or its executives misled investors in violation of the Wall Street regulator’s rule. The report said, citing 3 people familiar with the development. The SEC probe comes after the FAA launched its own investigation in April after a Boeing whistleblower claimed the company had disregarded safety and quality concerns in the production of its 787 and 777 jets. Planet Fitness is hiking its prices for new customers for the first time in over 25 years. Classic card membership will be priced at $15 per month for new members starting this summer. Current members will continue to pay $10 per month for the duration of their membership, and the change comes after months of price testing and several markets countrywide. Planet Fitness also said it will start testing higher prices for its top tier membership, known as the Black Card, this summer. For CNBC Business news, I’m Sylvana Hanau.