Dow rebounds | How high can Tesla go? | Latest on coronavirus

Stocks rebounded and Tesla popped by nearly 20%.

VIEW IN BROWSER | SUBSCRIBE MON, FEB 03, 2020 EVENING BRIEF AS OF MON, FEB 03, 2020 • 04:01 ET DJIA 28398.39 +0.50% +142.36 S&P 500 3248.83 +0.72% +23.31 NASDAQ 9273.40 +1.34% +122.47   Most Active DOW NAME LAST CHG %CHG AAPL 308.66 -0.85 -0.27% MSFT 174.38 +4.15 +2.44% XOM 60.72 -1.40 -2.25% S&P 500 NAME LAST CHG %CHG F 8.97 +0.15 +1.70% GE 12.26 -0.19 -1.53% BAC 32.97 +0.14 +0.43% NASDAQ NAME LAST CHG %CHG AMD 48.02 +1.02 +2.17% TSLA 780.00 +129.43 +19.89% AAPL 308.66 -0.85 -0.27% EDITOR'S NOTE Short-term market sentiment is being driven by headlines on the coronavirus, especially after a historic run that stretched equity valuations to extreme levels.   The death toll in China from the deadly virus reached 361, surpassing that of the 2003 SARS outbreak, while a first death outside of China was reported in the Philippines. But Wall Street investment banks are telling clients to buy the dip. They believe the fast-spreading virus could slow global economic growth, but ultimately they believe it will be a short-term event lasting a couple quarters at most.   Market analysts from major financial institutions including Morgan Stanley, JPMorgan, UBS and Credit Suisse are all sticking with their bullish year-end targets for the S&P 500, seeing the China virus as a short-term risk rather than a threat to derail the record-long bull market.   "The fundamental backdrop is supportive, in our view, and the fallout from the outbreak is unlikely to hurt [economic] activity prints over the medium term," said Mislav Matejka, JPMorgan's head of global and European equity strategy.   The market strategists are betting on an earnings rebound this year. At the same time, strong economic fundamentals and an accommodative Federal Reserve will help offset the global health risk, they said.   Mike Wilson, Morgan Stanley's head of U.S. equity strategy, believes the correction will be contained to 5% in the S&P 500.   "The virus development should not derail the recovery," Wilson said. After Monday's rebound, the S&P 500 stood less than 3% from its all-time high.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Yun Li | CNBC Markets and Investing Reporter @YunLi626 TOP NEWS  Stocks rebound from Friday's rout, but coronavirus fears linger Coronavirus live updates here Tesla's stock soars as much as 20% at one point Oil drops 2.8% on coronavirus fears, dips below $50 per barrel Apple is down more than 5% from all-time high on fears coronavirus could hurt iPhone sales Tesla short sellers are down $8 billion in 2020, including $2.5 billion alone from Monday's pop Wall Street braces for more volatility ahead: 'It could go up huge or it could go down huge' China accuses US of spreading fear and panic over coronavirus outbreak Wall Street strategists stick by their bullish 2020 market forecasts despite coronavirus fears David Tepper says coronavirus 'may be a game changer' for market     TOP VIDEO Don't buy the dip during the coronavirus sell-off, says Mohamed El-Erian   CNBC PRO Here are Monday's biggest analyst calls of the day: Verizon, Nike, Uber, Exxon Mobil & more   SPECIAL REPORTS As Amazon sits at trillion-dollar milestone, traders bet on different mega-cap tech stock One commodity could be sending up a warning flare for investors   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS