April 8 (UPI) -- U.S. stocks rebounded from minor losses on Tuesday as the Dow Jones Industrial Average gained nearly 780 points amid an optimistic outlook surrounding the COVID-19 pandemic.The Dow closed up 779.71 points, or 3.44 percent, while the S&P 500 climbed 3.41 percent and the Nasdaq Composite ended the day with a gain of 2.58 percent. The Dow gained more than 900 points Tuesday before a late slump and closed with a 26-point loss after posting a 1,600-point gain Monday as markets began to rebound early in the week after experiencing severe declines as many businesses have been shut down and Americans have lost jobs due to the coronavirus. White House health adviser Dr. Anthony Fauci said Wednesday the United States coronavirus picture should begin to "turn around" after this week, citing the effectiveness of social distancing guidelines and stay-at-home orders issued in many states to prevent the spread of the virus. "We need to keep pushing on the mitigation strategies because there is no doubt that is having a positive impact on the dynamics of the outbreak," he said. "Now is not the time to pull back at all. It's the time to intensify." While Americans are still urged to remain inside, markets reacted to the possibility of a downturn in new cases and stocks for major travel and hospitality companies that have been hit hard by the outbreak saw gains Wednesday. Carnival stock rose 6.39 percent, Norwegian Cruise Line increased 6.45 percent and Royal Caribbean surged 11.95 percent, while United Airlines led airline stocks with a 12.38 percent rise, followed by American Airlines which shot up 10.86 percent and Delta rose 4.46 percent. Wynn Resorts also soared 13.51 percent, while MGM Resorts stock climbed 10.05 percent. The energy sector led the S&P 500's gains on the day as crude oil prices rebounded with West Texas Intermediate futures increasing 10.34 percent to $26.06 per barrel. Markets also reacted to Bernie Sanders' announcement that he would suspend his presidential campaign, as the Vermont senator rallied against Wall Street and in favor of a Medicare for All healthcare plan that analysts warned would hurt private insurers. Health insurers Anthem, Humana and Cigna saw shares rise 10.25 percent and 5.38 percent, 5.11 percent respectively to end the day.