Why Boeing Stock Is Moving Higher Today
Boeing (NYSE: BA) has faced setbacks selling planes to China, but the company apparently is making progress expanding its presence in other parts of the world. Shares of the aerospace giant traded up nearly 3% on Tuesday following reports the company is attempting to make inroads into the emerging India market.
Boeing's 737 MAX was once expected to be among the top-selling commercial aircraft of all time, but a pair of fatal accidents led to an 18-month grounding of the plane in the U.S. and elsewhere. Though the plane has returned to service in most markets, China remains a stubborn holdout.
That's a problem for Boeing, as China is also among the world's most important aerospace growth markets. Investors are watching closely for signs the plane could be recertified in China soon, even sending the shares higher after a Mongolian airline was allowed to fly the MAX into China. But with geopolitical tensions between the U.S. and China running high, there is no clear timetable for when deliveries might be allowed to resume.
Source Fool.com
