San Francisco has 2nd highest Covid infection rate in California

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San Francisco, May 7 | San Francisco now has the second-highest rate of Covid-19 infection in California, with an average of 40 new daily cases per 100,000 residents, according to state data.

Bay Area’s San Francisco, Santa Clara, Marin and San Mateo counties, as well as Santa Cruz County, had all fallen within the Centers for Disease Control and Prevention’s (CDC) “yellow” tier as of Friday morning, signaling that more than 200 cases were reported in the last week for every 100,000 residents, reports Xinhua news agency.

As the US Covid death toll approaches 1 million, at least 32,500 children in California and more than 214,400 nationwide have lost at least one parent or primary caregiver to the virus, according to “Hidden Pain”, a report from the Covid Collaborative, a nonprofit advocacy group.

According to a separate CDC “community transmission” rating, based on case numbers per 100,000 and test positivity rates, all nine Bay Area counties, as well as the counties surrounding the San Joaquin River Delta and virtually the entire California coast, are classified as “high”, the worst level, according to a report by The San Francisco Chronicle.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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