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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An armed drone was shot down near the Iraqi Ain Al-Asad Air Base, according to Reuters citing security sources. There were no reported casualties. The event may have implications for EIS, SPY, and USO.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:53 pm

A roadside bomb blast targeted a joint U.S.-Iraqi military convoy near Iraq's Mosul, with no casualties reported, according to Reuters citing security sources.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:44 pm

The Energy Information Administration (EIA) has announced a delay in its scheduled data releases from November 8-10, 2023, due to a planned systems upgrade. The regular publishing schedule will resume on November 13.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:34 pm

The US has temporarily gained an edge in the Middle East conflict, leading to a drop in oil prices and speculation of the Fed cutting rates. Jobless claims remain strong, indicating a robust jobs market. China is facing deflation with October CPI falling 0.1%. Early trade money flows are positive for Amazon, Alphabet, Meta Platforms, Microsoft, and NVIDIA, but negative for Tesla and Apple. Money flows are mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. Bitcoin has moved over $37,000, with retail investors speculating a rise to $40,000.

Portfolio Pulse from The Arora Report

November 09, 2023 | 3:28 pm

The stock market's momentum appears to be waning with futures suggesting a mixed opening for Thursday. Earnings reports have generally been positive, with companies like Walt Disney Co. posting encouraging quarterly results. Bond yields have started to rise in anticipation of the IMF panel discussion, featuring Federal Reserve Chair Jerome Powell. Morgan Stanley's Lisa Shalett remains wary of a potential slowing in economic growth, the specter of sticky inflation, the overall market trend remaining sideways and uninspiring, and the stresses emerging in the high-yield or speculative grade credit.

Portfolio Pulse from Shanthi Rexaline

November 09, 2023 | 12:25 pm

On November 9th, US stock markets closed mixed with the Dow Jones ending its seven-day winning streak. S&P 500 sectors mostly ended higher, led by tech and real estate gains, while energy and utilities fell. Asian markets mostly ended higher, led by Japan's Nikkei 225 and Australia's S&P/ASX 200. European stocks climbed, driven by robust earnings from AstraZeneca and Adyen. Commodities saw Crude Oil trading higher while Natural Gas, Gold, Silver, and Copper declined. US futures were mixed, and the U.S. Dollar Index was up.

Portfolio Pulse from Akanksha Bakshi

November 09, 2023 | 11:51 am

US stock futures indicate a flat opening after several consecutive gains. Traders are awaiting Federal Reserve Chair Jerome Powell’s speech for insights into possible rate cuts. Media earnings, including Walt Disney Co., are in focus. Bond yields remain stable, reflecting dovish messages from Fed officials. The S&P 500 and the Nasdaq Composite had their longest winning streak since November 2021. In premarket trading, the SPDR S&P 500 ETF Trust ticked up 0.04% and the Invesco QQQ ETF edged down 0.01%. Several companies including Rivian Automotive, Lucid Group, Akamai Technologies, eBay, GoPro, H&R Block, IAC Inc., and Upstart Holdings reported earnings.

Portfolio Pulse from Shanthi Rexaline

November 08, 2023 | 12:12 pm

The Energy Information Administration (EIA) has reduced its forecast for OPEC's surplus crude oil production capacity in 2023 to 3.7 million barrels per day (BPD), according to Reuters. The United States Oil Fund (USO) may be affected by this news.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 6:12 pm

The Energy Information Administration (EIA) has increased its forecast for world oil demand growth in 2024 by 80,000 barrels per day (BPD), while reducing its forecast for 2023 by 300,000 BPD.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:46 pm

The stock market is looking for a trigger for the next move after a short squeeze in bonds led to a rally in stocks. Apple Inc has recovered after a weak earnings report, which is seen as an indication of investor sentiment. Positive earnings news from Datadog Inc, DR Horton Inc, and NXP Semiconductors NV is driving buying in related stocks. Money flows are positive in Amazon, Alphabet, Meta Platforms, and Microsoft, but negative in Apple, NVIDIA, and Tesla. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

November 07, 2023 | 3:23 pm

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