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Added on the 09/01/2021 16:27:09 - Copyright : Wochit
The US equity indexes closed at record highs on Thursday. Analysts look to the Democrats' victories in the Georgia Senate runoffs as a factor in the surge. Experts say the dual victories in the Georgia Senate runoffs pave the way for sweeping fiscal support in early 2021. The S&P 500 was up 1.5% at 3,803.79. The Dow Jones industrial average closed 212 points higher at 31,041.13, up 0.7%. While the Nasdaq composite saw an uptick of 2.6% at 13,067.48.
Surges of COVID-19 patients are threatening to overwhelm hospitals across the nation. CNN reports at least 123,639 people across the country were in the hospital with the novel coronavirus on Saturday. The COVID Tracking Project says that marks the 32nd consecutive day that the number of hospitalizations has exceeded 100,000. Cases skyrocketed after the Thanksgiving holiday. The fallout form Christmas and New Year's celebrations are still unfolding. Johns Hopkins University data reveals that as of Saturday, more than 20.4 million people have been infected with the virus in the US. At least 350,186 people have died from the illness.
US stocks climbed on Friday after disappointing November jobs data buoyed hopes for a near-term stimulus deal. The S&P 500, Dow Jones industrial average, and the Nasdaq composite all closed at all-time highs. The US unemployment rate edged downward from 6.9% to 6.7% meeting economists' forecasts. The S&P 500 closed at 3,699.12, up 0.9% on Friday. The Dow Jones industrial average closed at 30,218.26, up 0.8% (249 points). While the Nasdaq composite saw closing numbers of 12,464.23, up 0.7%.
The South Dakota Department of Health on Saturday reported 54 new deaths from COVID-19. According to Business Insider, the number surpassed the state's previous record death total of 53. But that didn't stop South Dakota Gov. Kristi Noem from tweeting state residents and encouraging them to go shopping. The GOP governor has refused to issue a statewide mask mandate. She has also disputed science and calls to enact stricter measures to contain the virus in the state.