After some major bloodletting last week, the Dow Jones Industrial Average had its biggest single-day percentage gain since 2009 on Monday, rising nearly 1,300 points.
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The Dow’s best performers Monday included Apple, Walmart, United Health Group, Microsoft and The Travelers Companies. Apple shares rose by more than 9% and Microsoft by more than 6% during trading. In a memo Sunday evening, Daniel Ives, the managing director of equity research at Wedbush Securities, put Microsoft and Apple both atop their list of top tech names to own"in this coronavirus sell-off."
"We view these times of fear and 'white knuckle' Street panic as witnessed over the past week with the coronavirus outbreak as, while tragic for the individuals and families impacted, representing golden buying opportunities to own the tech themes and stocks that we believe will be long term winners," Ives wrote.
Among the worst performers Monday were the Walt Disney Company, Dow Inc. and 3M Co., though even shares for those three were up by approximately 2%.
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