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S&P 500 Hits Record as Strong Holiday Sales Offset Covid Fears

Shoppers in San Francisco, California, on Dec. 22. 

Shoppers in San Francisco, California, on Dec. 22. 

Photographer: David Paul Morris/Bloomberg

U.S. stocks closed at a new record Monday as American consumers spent at a strong pace over the holiday shopping season despite the spread of the omicron Covid-19 variant.

The S&P 500 climbed 1.4% to finish at 4,791.19, notching its 69th all-time closing high in 2021 while also setting a new intraday record. All 11 sectors in the index rose, led by gains in energy and technology. The tech-heavy Nasdaq 100 advanced 1.6%, its best day since Tuesday. The blue-chip Dow Jones Industrial Average jumped 351.82 points, or 1%, also its best one-day percentage gain day since last Tuesday.