U.S. stocks rallied in the final hours of trade to end the day in positive territory as investors looked past rising U.S.-China tensions to focus on hopes of an economic rebound from the coronavirus-induced slowdown. The Dow Jones Industrial Average
rose 26 points, or 0.1%, to end the session around 23,750, the S&P 500 index
gained 12 points, or 0.4% to close near 2,843 and the Nasdaq Composite index
rallied 106 points, or 1.2% to about 8,700. Mega-cap technology companies helped power the major indexes higher with Dow component Microsoft Corp.
rising 2.5% in a rebound, after losing 2.6% Friday in a broad market selloff. Other tech gainers included Tesla Inc.
which led the Nasdaq-100 with an 8.5% gain and Netflix Inc.
which ended the session up 3.1%. Analysts pegged earlier losses to comments from the Trump Administration Sunday suggesting it could impose additional tariffs on Chinese goods in retaliation for its mishandling of the COVID-19 outbreak, and comments by Warren Buffett, who said he sold his firm’s airline stakes as a result of the virus. An airline-focused exchange-traded fund U.S. Global Jets ETF
lost about 4.3% on the day.