US stocks extend rally on more reports China's open to trade talks. Dow gains 600 points and S&P 500's on pace for longest winning streak in 20 years.

Officials in Beijing said they want the Trump administration to “show sincerity,” as it evaluates efforts by the U.S. to start trade negotiations.

At the time of writing, the US has not denied China's claims that it has been attempting to initiate talks. But the fact that both sides have now made that assertion indicates there is "some sort of contact", according to Mr Chong.