Biden takes the lead in several key states — here's his plan for Covid-19 as cases skyrocket: CNBC After Hours

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. As U.S. Covid-19 cases surpass 100,000 for the second day in a row, CNBC's Meg Tirrell explains how Joe Biden plans to contain the pandemic if he wins the election. Plus, CNBC.com's Brian Schwartz breaks down all the cash spent on the election, which has been the most expensive in history.

Coronavirus: U.S. tops 120,000 new cases on Thursday, a single-day record; Maine tightens mask mandate

The U.S. recorded 121,888 new cases of Covid-19 on Thursday, according to a Johns Hopkins University tally, the highest single-day increase to date and taking the national total to 9.61 million. New deaths totaled 1,210, bringing the total to 234,944.

Wednesday was the first time nationwide new cases have topped 100,000 on a single day, and pushed the seven-day average of daily new infections to a record 89,858. Countries around the world are battling against resurging outbreaks as winter temperatures set in and pandemic-fatigued people move indoors.

Election 2020 live results: Trump vows legal battles as Biden lead continues to grow in Pennsylvania

As of early Friday morning, Joe Biden is projected to win 253 electoral votes, 17 short of the 270 to win. He has made significant progress against President Trump in two key states. Biden has taken the lead in Pennsylvania. The state, which has 20 electoral votes, would put Biden over the top.

Biden took a slim lead in Georgia, which has 16 electoral votes.

More results are expected Friday, including from Arizona, where Trump has been gaining on Biden, and Nevada, where Biden holds a narrow lead.

Biden has urged patience as the count continues, while Trump has made baseless claims of voter fraud and his campaign has mounted several legal challenges.

Georgia Senate runoff election is shaping up to cost tens of millions of dollars

The coming Georgia Senate runoff between GOP Sen. Kelly Loeffler and Democratic challenger Raphael Warnock is shaping up to cost tens of millions of dollars.

Republicans are expected to shell out at least $100 million, according to a GOP strategist familiar with the plans. This person also noted that Democrats are expected to spend a similar amount. NBC News projected that Loeffler and Warnock are headed to a runoff after they placed in the top two of several candidates running for the seat in a special election.

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