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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Mixed earnings have led to a dampened risk appetite in the market, with Microsoft's positive report contrasting Alphabet's underwhelming cloud revenue growth. The focus now shifts to Meta Platforms, which is due to report after the close. Analysts stress the importance of robust corporate profit growth to sustain valuations, especially with rising bond yields. The S&P 500 Index broke a five-session losing streak, while the Nasdaq Composite recorded gains for the second consecutive session. In premarket trading, the SPDR S&P 500 ETF Trust slipped 0.34% and the Invesco QQQ ETF fell 0.55%.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 11:07 am

US stock markets closed higher on Tuesday, October 24, due to favorable corporate earnings and positive economic data. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw increases. Investors are awaiting GDP and PCE price index data. Asian markets were mixed, with gains in Japan and China, but a decline in Australia. European markets slid, and commodities were mixed with crude oil trading lower and natural gas gaining. US futures were mixed, and the US Dollar Index was up.

Portfolio Pulse from Akanksha Bakshi

October 25, 2023 | 10:59 am

The American Petroleum Institute (API) reported a draw of 2.668 million barrels in the weekly crude oil stock, compared to the estimated build of 1.550 million barrels. This is also a decrease from the prior draw of 4.383 million barrels.

Portfolio Pulse from Happy Mohamed

October 24, 2023 | 8:37 pm

U.S. Secretary Blinken stated at a United Nations meeting that the U.S. does not seek conflict with Iran, but will defend its people and security decisively if attacked by Iran or its proxies.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:44 pm

U.S. Secretary Blinken has urged UN member states to use their influence and leverage to secure the immediate and unconditional release of hostages. The call was made during a United Nations meeting.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:42 pm

U.S. Secretary Blinken, at a United Nations meeting, has called for humanitarian pauses to allow aid into Gaza. This could potentially impact the geopolitical situation in the region.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:40 pm

U.S. Secretary Blinken announced at a United Nations meeting that at least 33 American citizens were victims of a Hamas attack. The news may indirectly affect the performance of certain ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:38 pm

U.S. Secretary Blinken, at a United Nations meeting, emphasized the right of any nation to defend itself. No specific implications for any companies or ETFs were mentioned.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:36 pm

The pullback in yields is bringing in buyers to the stock market, with notable earnings reports from Microsoft Corp and Alphabet Inc Class C expected after market close. Earnings from Coca-Cola Co, Verizon Communications Inc., Rtx Corp, Dow Inc, 3M Co, Sherwin-Williams Co, General Motors Co, and General Electric Co are better than expected, while earnings from HCA Healthcare Inc, AGNC Investment Corp, Corning Incorporated, Packaging Corp Of America, and Polaris Inc are worse than expected. Positive money flows are observed in Microsoft, Alphabet, Meta Platforms Inc, Amazon.com, Inc., NVIDIA Corp, and Tesla Inc, while neutral in Apple Inc, and mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. The article also mentions buying in Bitcoin and speculative stocks.

Portfolio Pulse from The Arora Report

October 24, 2023 | 3:14 pm

The UN is currently holding a meeting to discuss the situation in the Middle East. The meeting is being broadcast live and can be viewed online. The ETFs EIS, SPY, USO, and VGK may be mentioned during the discussion.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:03 pm

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