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Stock Market Live: Investors cheer Fed dovishness, chip shortage weighs on EV-makers

4/8/2021 10:11:12 AM GMT | By Yohay Elam The Powell Put is alive and kicking – meeting minutes from the recent Federal Reserve meeting have shown a willingness to keep interest rates near zero and bond-buying at a rapid pace. The worlds most powerful central bank acknowledged the recovery but did not see it as even close to sufficient to change policy, at least in mid-March. What does the bank think now? Jerome Powell, Chair of the Federal Reserve, spea...
White House District Of Columbia United States Jerome Powell Ivan Brian Yohay Elam

Lucid Motors confirms Churchill Capital SPAC deal

  The highly-anticipated move to take Lucid Motors public is set to raise circa $4.4bn, which would see the luxury EV manufacturer valued at as much as $24bn. After selling shares at $10 each and raising $2bn in an initial public offering (IPO) on the New York Stock Exchange last July, Churchill Capital has now embarked on a private investment in public equity (PIPE) transaction to sell shares and raise another $1bn, as reported by Reuters. Highlighting the investor-frenzy around the stock, ...
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