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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U.S. stock futures indicate a lower open on Monday, influenced by Moody's downgrade of the U.S. sovereign rating outlook and anticipation of inflation data and Federal Reserve officials' speeches. Despite last week's gains, with the Nasdaq Composite and S&P 500 ending higher, the Russell 2000 faced selling pressure. Analysts express mixed sentiments, with some seeing resilience in the market and others predicting a tech bull market. Key companies like Plug Power and Walt Disney saw premarket movements, while Boeing rose on news of potential Chinese purchases of its 737 Max aircraft.

Portfolio Pulse from Shanthi Rexaline

November 13, 2023 | 12:15 pm

The OPEC Monthly Report has revised the world oil demand growth forecast for 2023 slightly upwards to 2.5 million barrels per day (mb/d), indicating a marginally stronger demand than previously assessed.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 12:13 pm

OPEC has published its monthly oil market report, which provides an analysis of the global oil industry and may influence oil prices and related stocks or ETFs.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 12:12 pm

Following a poor Treasury auction and comments from Powell about raising rates, stocks initially fell but later saw buying interest due to Wall Street mechanics. iShares 20 Plus Year Treasury Bond ETF (TLT) dropped but is recovering. Consumer confidence and inflation data are expected to be market-moving, with CPI data due on November 14. Short squeezes are common on Fridays, and early trading suggests one may be occurring. Money flows are positive for big tech stocks like AAPL, AMZN, GOOG, META, MSFT, NVDA, and TSLA, while mixed for SPY and QQQ. The momo crowd is buying stocks and oil but selling gold, with smart money's actions locked. Bitcoin is seeing retail interest on hopes of a weekend price surge. The article suggests maintaining good long-term positions and having a protection band strategy with cash or hedges based on risk preference.

Portfolio Pulse from The Arora Report

November 10, 2023 | 7:03 pm

The U.S. Baker Hughes Oil Rig Count has decreased by 2 from last week, bringing the total to 494. Meanwhile, the Gas Rig Count remains unchanged from last week, standing at 118.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 6:04 pm

US stock markets closed lower on November 10th due to rising Treasury yields and comments from Federal Reserve Chair Jerome Powell about the need to bring inflation back to its target. S&P 500 and Nasdaq broke their winning streaks, with all S&P sectors finishing lower. Asian and European markets also closed lower, with commodities trading mixed. US futures were down.

Portfolio Pulse from Akanksha Bakshi

November 10, 2023 | 12:33 pm

US stocks are expected to open lower on Friday due to concerns over interest rates and disappointing earnings reports. Federal Reserve Chair Jerome Powell's comments on inflation and interest rates have increased market uncertainty. Powell suggested another rate hike may be necessary if inflation doesn't pull back at a faster pace. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) fell. Stocks in focus include Plug Power, Inc. (NASDAQ:PLUG), which plunged over 29% in premarket trading following its third-quarter miss and “going concern” warning.

Portfolio Pulse from Shanthi Rexaline

November 10, 2023 | 12:08 pm

President Biden has announced the establishment of two humanitarian passages in Gaza, allowing people to flee hostile areas. He emphasized that Israel, while making its own decisions, must distinguish between terrorists and civilians and comply with international law.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 10:18 pm

U.S. Special Envoy David Satterfield stated that the U.S. does not believe a conflict involving Lebanon and Israel is inevitable. This statement may have implications for ETFs related to these regions.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:33 pm

According to a statement cited by Reuters, a Hamas official has stated that talks are ongoing and no agreement has been reached with Israel so far.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 5:06 pm

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