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Traders work on the floor of the NYSE. Photo: Spencer Platt/Getty Images

Stocks closed up more than 4% on Monday, rebounding from Wall Street's worst week since the financial crisis. The S&P 500 is 8% below its record high, moving out of correction territory.

The big picture: The gains come despite more news of the coronavirus outbreak spreading in the U.S. and around the globe. Central banks, including the Federal Reserve, indicated willingness to step in to soften the blow of any coronavirus impact to the global economy.

By the numbers: The S&P 500 and the Nasdaq Composite rose 4.6% and 4.4%, respectively. The Dow Jones Industrials Average rose 1,293 points, or 5%.

Go deeper

Scoop: Over 200 papers quietly sue Big Tech

Illustration: Allie Carl/Axios

Newspapers all over the country have been quietly filing lawsuits against Google and Facebook for the past year, alleging the two firms monopolized the digital ad market for revenue that would otherwise go to local news. 

Why it matters: What started as a small-town effort to take a stand against Big Tech has turned into a national movement, with over 200 newspapers involved across dozens of states.

1 hour ago - Science

Exploding demand for laboratory space

Illustration: Brendan Lynch/Axios

Office occupancy rates remain deflated across industries, but one type of workplace is in high demand: labs.

The big picture: A number of trends — in public health, American demographics and venture capital funding — are colliding to supercharge the life sciences industry.

Dan Primack, author of Pro Rata
1 hour ago - Technology

Trump's unconventional social media SPAC

Illustration: Sarah Grillo/Axios

Donald Trump's social media startup is under investigation by federal securities regulators, before it's even launched a product, and every new disclosure seems to invite new questions.

Why it matters: Trump Media & Technology Group was always bound to be controversial, but it's inviting extra scrutiny by keeping basic details secret and making wild promises.