(CNBC) -- Stocks rose solidly on Monday, recovering some of the losses from the previous session’s steep sell-off, but investors remained wary about the bounce as coronavirus fears lingered.
The Dow Jones Industrial Average closed 143.78 points higher, or 0.5%, at 28,399.81. The S&P 500 gained 0.7% to end the day at 3,248.92 while the Nasdaq Composite was up 1.3% at 9,273.40.
Nike led the Dow higher with a 3.1% rise after analysts at UBS and JPMorgan recommended buying the stock on coronavirus-related weakness. JPMorgan called this recent pullback a “multi-year buying opportunity.” Tesla, meanwhile, jumped more than 19% to record levels after an Argus Research analyst hiked his price target on the stock to $808 per share.
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