US equity markets extended their recent rally amid signs of some thawing of tensions in the Russia-Ukraine conflict - Dow up +338-points or +0.97% . UnitedHealth Group Inc (down -0.48%) confirmed that its Optum Health unit would buy post-acute healthcare services company LHC Group LHCG in a deal that values LHC Group (up +5.93%) at more than >US$5.5B (US$170 per share). The broader S&P500 rose +1.23% to 4,631.60, exiting official correction territory after moving above 4,587.77 as the index rose for a fourth straight day. Based on data going back to 1928, the S&P 500 has seen a median gain of 11.5% a year after exiting correction, and average gain of nearly 14% - rising nearly 77% of the time. Median and average returns for shorter term time frames were also positive, according to Dow Jones Market Data. Real Estate (up +2.85%) and Information Technology (+2.06%) climbed over >2% to lead then of the eleven primary sectors higher. Energy (down -0.44%) was the only primary sector to close in the red. FedEx Corp rose % after the company announced that founder Fred Smith would step down as Chief Executive Officer (CEO) on 1 June and be replaced internally. Tesla Inc added +0.71% after Morgan Stanley reiterated its overweight rating on the electric vehicle maker. Morgan Stanley analyst Adam Jonas wrote in a client note that Tesla may spend a combined $200 billion to $250 billion on capital expenditures and research and development through 2030, or roughly the entire market value of Toyota Motor , the No. 2 automaker in market value behind Tesla. The call came after CEO Elon Musk tweeted that he was “Working on master plan part 3.” Moderna Inc rose +4.37% after U.S. regulators approved an additional COVID vaccine booster shot for people age 50 and over. The technology-centric Nasdaq gained +1.84%. The small capitalisation Russell 2000 climbed +2.65%.