Dow rises back above 24,000 | Betting on a virus treatment | Gundlach not buying it

Stocks rose as investors weighed the reopening of some state economies.

VIEW IN BROWSER | SUBSCRIBE MON, APR 27, 2020 EVENING BRIEF AS OF MON, APR 27, 2020 • 04:13 ET DJIA 24133.78 +1.51% +358.51 S&P 500 2878.48 +1.47% +41.74 NASDAQ 8730.16 +1.11% +95.64   Most Active DOW NAME LAST CHG %CHG BA 128.68 -0.30 -0.23% MSFT 174.05 -0.50 -0.29% AAPL 283.17 +0.20 +0.07% S&P 500 NAME LAST CHG %CHG GE 6.43 +0.17 +2.72% F 5.17 +0.30 +6.16% AAL 10.02 -0.29 -2.81% NASDAQ NAME LAST CHG %CHG AAL 10.02 -0.29 -2.81% AMD 56.49 +0.31 +0.55% UAL 25.00 -0.56 -2.19% EDITOR'S NOTE Stocks are recovering ahead of the economy as investors pin their hopes on science.   CNBC's Tom Franck and Gina Francolla on Monday released a new CNBC Covid-19 Testing and Treatments Index comprised of companies working on some of the most promising treatments. The index tracks the gains of the S&P 500 in lockstep, they report.   "The debate has shifted from how deep the recession will be to how quickly the economy recovers," Dennis DeBusschere, head of Evercore ISI's portfolio strategy, wrote in a note on Sunday. "The outlook for economic growth … is increasingly dependent on a cure/treatment for Covid that reduces the risk of rolling lockdowns," he added.   Stocks rose on Monday as investors parsed the incremental reopening of some state economies amid the ongoing pandemic.  New York Gov. Andrew Cuomo said Sunday that the state plans to reopen its economy in phases beginning with the construction and manufacturing sectors around May 15.   Hopes are high, but the S&P's rally from its March lows has not discouraged bearish investors altogether.   "I think a retest of the low is very plausible,"  Jeffrey Gundlach, CEO of DoubleLine, said on CNBC's "Halftime Report." "People don't understand the magnitude of ... the social unease at least that's going to happen when ... 26 million-plus people have lost their job."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow surges 350 points on hope of economy reopening, closes above 24,000 The market is rebounding on hope for a treatment, new index tracking coronavirus-drug makers shows The Fed won't move on rates this week, but here are some other things it could do San Francisco extends stay-at-home order through May amid coronavirus pandemic Track the latest coronavirus headlines here Boeing CEO says air travel recovery could take two to three years; board wins approval Jeffrey Gundlach is shorting the market, says a retest of the low 'very plausible' Charlie Munger will not take questions at Berkshire Hathaway's annual meeting this year Oil plunges more than 25%, extending recent losses as storage fills Oil ETF dumps plunging June oil contract as Cramer says hedge funds are trying to crush the fund     TOP VIDEO Watch the full interview with Jeffrey Gundlach   CNBC PRO These stocks have the most exposure to small businesses and should be avoided, Goldman says   SPECIAL REPORTS A lot of negativity has already been priced into energy stocks, traders say Apple and other big tech stocks report this week – what to watch   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