US Close 3 May 16: US higher - gas and oil giants under pressure. RBA in focus

US sharemarkets rose on Monday. Shares in Amazon rose 3.7%, lifting the consumer discretionary sector. And shares in Goldman Sachs lifted 1.3%, boosting financials. Markets rose despite Puerto Rico's Government Development Bank saying that it will miss a $422 million bond payment. The Dow Jones rose by 117.5 points or 0.7% with the S&P 500 index up 0.8% while the Nasdaq lifted by 42 points or 0.9%.

Ahead: In Australia building approvals data is released. The Reserve Bank Board meets. The Federal Budget is handed down

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