US markets extended their multi-session rally into a fourth session - the longest winning streak since September last year - to leave both the Dow and S&P50 on the cusp of exiting correction territory - Dow up +92-points or +0.39% (to 23,879.12). The Dow needs to close at or above 23,971.42 to emerge from the correction phase (as defined by a 10% gain from the correction low). The broader S&P500 +0.41% (to 2,584.96), with Energy (up +1.50%) and Information Technology (+1.24%) the leading sector performers. The S&P 500 would need to climb to 2,586.21 or above to exit correction territory. Chesapeake Energy Corp jumped 12% after the energy firm's fourth-quarter production outlook topped expectations. The NASDAQ rose +0.90%. The technology centric is up 12.3% from its Christmas Eve nadir but remains squarely in bear-market territory (usually defined as a decline of at least 20% from a bull-market peak). The Nasdaq would need to climb another 7.7% to break out of a bear market, which it entered on 21 December. The US and China reportedly plan to release their respective statements on the latest trade talks at the same time tonight AEDT, according to the Global Times.
