Streetbeat News

USO

United States Oil Fund, LP

http://www.unitedstatesoilfund.com

Industry

Asset Management

USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels.

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The Arora Report analyzed earnings from Microsoft (MSFT), Advanced Micro Devices (AMD), and Alphabet (GOOG), stating they were good but did not meet the whisper numbers, and AI prospects are strong but overhyped. ADP's employment report showed weaker than expected job growth, leading to speculation of a potential Fed rate cut, which caused a shift from selling to buying in tech stocks. Money flows were negative in major tech stocks like Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), and Tesla (TSLA), while mixed in ETFs SPY and QQQ. The momo crowd is buying gold, oil, and bitcoin, while smart money remains inactive. The Arora Report advises investors to maintain a protection band of cash, hedges, and short-term trades to balance risk and opportunity.

Portfolio Pulse from The Arora Report

January 31, 2024 | 5:00 pm

The latest report indicates a 1.234 million barrel build in crude oil inventories, which contrasts with the estimated 217 thousand barrel draw. This unexpected increase in oil stockpiles suggests a potential oversupply in the market.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:30 pm

U.S. stock markets closed mixed on January 30th, with the Nasdaq Composite declining ahead of major corporate earnings reports and the Federal Reserve's policy meeting. The S&P CoreLogic Case-Shiller index showed a 5.4% increase year-over-year, FHFA house prices rose 0.3% from October, and job openings in December increased. Financial and energy sectors led gains in the S&P 500. Asian and European markets were mixed, with Japan's Nikkei 225 and Australia's S&P/ASX 200 up, while China's Shanghai Composite and Hong Kong's Hang Seng Index fell. Commodities saw crude oil prices dip, while gold remained above $2,050. U.S. futures were mixed, and the U.S. Dollar Index rose slightly.

Portfolio Pulse from Akanksha Bakshi

January 31, 2024 | 12:43 pm

The API reported a weekly crude oil stock draw of 2.5 million barrels, significantly exceeding the estimated draw of 867,000 barrels. This larger-than-expected decrease in crude oil inventories could suggest higher demand or lower supply than anticipated.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:43 pm

The IMF's latest report suggests a positive economic outlook for 2024, with a forecasted global growth of 3.1%. The report highlights the role of AI, particularly the impact of Nvidia Corp, a leader in AI chip production. The Global X Robotics & Artificial Intelligence ETF (BOTZ) offers exposure to Nvidia and other AI companies. Additionally, geopolitical tensions and inflation are noted as potential risks, with the United States Oil Fund ETF (USO) seeing an 8% gain since the year's start. The U.S. economy is expected to grow by 2.1% in 2024, with fiscal tightening and debt management posing challenges.

Portfolio Pulse from Neil Dennis

January 30, 2024 | 5:51 pm

Microsoft's (MSFT) earnings report is considered the most important this season, with a focus on AI monetization and cloud revenue growth. Whisper numbers are higher than consensus, indicating potential for a significant stock move. UPS (UPS) reported earnings below whisper numbers, suggesting economic weakness, impacting the broader market. Treasury borrowing plans are lower than expected, raising questions about political motives. Layoffs at UPS and IBM's work-from-home policy are noted. Early trades show positive money flows for MSFT, NVDA, and TSLA, neutral for GOOG and META, negative for AAPL and AMZN, and mixed for SPY and QQQ. Gold (GLD) and oil (USO) are seeing buying from the momo crowd, while smart money is inactive. Bitcoin (BTC) is moving higher with speculative stocks.

Portfolio Pulse from The Arora Report

January 30, 2024 | 4:18 pm

A senior Hamas leader has announced a multi-stage plan for releases, with the second stage involving the release of all male and female recruits, and the third stage focusing on the release of bodies. The news does not provide specific details on how this plan will be implemented or its broader implications.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 3:24 pm

A senior Hamas leader has indicated that a proposed ceasefire includes a three-stage process, with the first stage involving the release of civilians such as women, children, adults, and patients.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 3:23 pm

The U.S. is reportedly set to renew oil sanctions on Venezuela following the barring of a candidate. The renewal is scheduled for April, coinciding with the expiration of the current license.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 6:24 pm

Qatar's Prime Minister has stated that UNWRA should not face consequences for allegations against individual staff members. The article does not provide details on the nature of the claims or how they relate to the mentioned ETFs (EIS, SPY, USO).

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:21 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.