AM Report 10 May 18: Oil rallies boosting energy and industrials helped by price controls

US sharemarkets rose on Wednesday. Energy stocks rose in line with a 3% jump in the oil price after the US withdrew from the Iranian nuclear agreement. Growth sectors like technology and industrials were higher at the expense of defensive sectors. But shares in Walmart fell after the retailer took a majority stake in Indian e-commerce firm Flipkart for around $16 billion. After trading in a 263 point range, the Dow Jones closed higher by 182 points or 0.8%. 

 

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