AM Report 8 May 18: Higher oil and US dollar boosts Wall Street, budget time here at home.

US sharemarkets rose on Monday. Energy sectors led the gains together with tech bellwether Apple. Shares in Apple ended 0.7% higher. Last week Berkshire Hathaway revealed that it had further lifted its holdings in Apple. According to Reuters, nearly 80% of the 417 S&P 500 companies that have reported earnings so far have topped profit estimates. That is well above the long-term average of 64%. After being up 216 points, the Dow Jones closed higher by 95 points or 0.4%. The S&P 500 index rose by 0.4% and the Nasdaq index lifted by almost 56 points or 0.8%.

Hello All,

Feel free to download and disseminate on your radio stations.

Kind Regards,

The CommSec Media Team

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The Bank and its subsidiaries have effected or may effect transactions for their own account in any investments or related investments referred to in this report. This report is not a recommendation to buy, sell or hold any securities or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial or taxation situation and needs and, if necessary, seek appropriate professional advice. This report is produced by Commonwealth Research based on information available at the time of publishing. We believe that the information in this correspondence is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.