US equity markets rallied, buoyed by a batch of strong earnings from the retail sector boosted market sentiment - Dow extended gains into a fifth consecutive session (its longest winning streak since 18 March), up +516-points or +1.61%. Boeing Co (up +4.65%) and Nike Inc (+4.38%) were among the leading performers. The broader S&P500 +1.99%, with Consumer Discretionary (up +4.78%) leading ten of the eleven primary sectors higher. All of Information Technology (+2.45%), Financials (+2.25%) and Communication Services (+2.078%) also climbed over >2%. Real Estate (down -0.10%) was the only primary sector to settle in the red. The Nasdaq rallied +2.68%. Apple Inc advanced +2.32% after a report said the iPhone maker plans to keep production of its flagship item flat this year due to industry challenges. Apple also said it would lift hourly pay for U.S. workers by +45% from 2018 to US$22 per hour to compete in a tight labour market and amid pushes by some employees to unionise. Nvidia Corp recovered from earlier losses to settle +5.16% higher The small capitalisation Russell 2000 rose +2.17%. In merger and acquisition (M&A) news, Broadcom Inc (up +3.58%) confirmed it had reached a deal to acquire cloud computing company VMWare Inc (+3.17% at US$124.36) in a cash and scrip deal worth ~US$61B following speculation earlier this week. Under the terms of the agreement, VMware shareholders will choose to receive either US$142.50 per share in cash or 0.2520 a common share of Broadcom for each VMware share.