Electric vehicle maker Lucid bursts into Saudi PIF report to buy remaining stake

Electric vehicle maker Lucid bursts into Saudi PIF report to buy remaining stake

Jan 27 (Reuters) – Shares of Lucid Group (LCID.O) jumped 43% on Friday, trimming gains after doubling down on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted buy the electric vehicle manufacturer. The speculation stemmed from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the … Read more

Why Workhorse Stock Is Rising

Why Workhorse Stock Is Rising

Workhorse Group Inc. WKHS the shares are trading up 6.97% at $2.22 ahead of the close of trading on Friday. Shares of vehicle stocks linked to electric and clean energy vehicles are trading higher following a rumor suggesting that the Public Investment Fund is preparing to buy the rest of Lucide Group Inc.. The sector … Read more

S&P 500 nears first ‘golden cross’ in 2.5 years, but that doesn’t guarantee more gains to come

S&P 500 nears first ‘golden cross’ in 2.5 years, but that doesn’t guarantee more gains to come

The S&P 500 is poised to hit its first “golden cross” in two and a half years, but that doesn’t mean stocks are destined for more gains in the year ahead. The golden cross indicator is used by technical analysts as a sign that a particular uptrend in markets or currencies is gaining momentum. Barring … Read more

Stocks close higher on Friday, Nasdaq posts fourth week of gains

Stocks close higher on Friday, Nasdaq posts fourth week of gains

Shares rose on Friday and capped a winning week fueled by better-than-expected economic growth and a rise in Tesla shares. The Nasdaq Composite jumped 0.95% to 11,621.71, while the S&P 500 gained 0.25% to close at 4,070.56. The Dow Jones Industrial Average added 28.67 points, or 0.08%, to end at 33,978.08. All major averages posted … Read more

Some car insurers refuse to cover certain Hyundai and Kia models

Some car insurers refuse to cover certain Hyundai and Kia models

CNN — Progressive and State Farm, two of the largest U.S. auto insurers, are refusing to underwrite policies in certain cities for certain older Hyundai and Kia models that have been deemed too easy to steal, the companies say. Several reports indicate that companies have stopped offering insurance on these vehicles in cities such as … Read more

Here’s the real reason American Express offers such big rewards

Here’s the real reason American Express offers such big rewards

Armed with impressive rewards and a loyal customer base, AmEx is a giant in the credit card industry. The company’s revenue has grown more than 32% since 2017, when adjusted for inflation, and the company’s shares have shown resilience and growth in a tumultuous market. “Rebate revenue,” or fees charged to merchants who accept its … Read more