US sharemarkets rose on Thursday after the world's largest retailer, Wal-Mart, reported better sales that topped expectations.

CNN reports that market gains were limited by oil prices hitting and continuing financial sector weakness. At the close of trading on Thursday, the Dow Jones industrial average gained 52.43 points, or 0.41 percent, to close at 12,866.78, while the broader Standard & Poor's 500 added 5.11 points, or 0.37 percent, to close at 1,397.68.

The technology-based Nasdaq composite added 12.75 points, or 0.52 percent, to close at 2,451.24.

Sharemarkets were buoyed by the release of sales reports from several giant US retailers came. Shares in Wal-Mart Stores rose one percent after it reported that April sales at stores open a year or more bettered analysts' expectations, although it forecast flat sales for May.

Meanwhile retail giant Target said its same-store sales were up 3.1 percent in April, however this was below the 4.5 percent increase forecast, while Costco said its April sales were up 8 percent last month, well ahead of the 6.1 percent that was forecast.

On commodity markets, the price of US light crude oil for June delivery added 16 US cents on the New York Mercantile Exchange to reach yet another record of US$123.69 a barrel, while gold prices on the COMEX index increased by US$11.10 to be worth US$882.30 an ounce.

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