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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US stock futures are surging ahead of Microsoft and Google's earnings announcements. The tech-heavy Nasdaq Composite Index is on track for a positive open after snapping a four-day losing streak. Analysts are hopeful for positive earnings reports from the 'Magnificent Seven', which includes Alphabet, Inc. and Microsoft Corp. However, they caution against any negative surprises. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF rose. Coinbase Global, Inc. surged over 7% in premarket trading after an appeals court ordered the SEC to review the Grayscale Bitcoin Spot ETF application.

Portfolio Pulse from Shanthi Rexaline

October 24, 2023 | 11:24 am

On Monday, October 23, the U.S. stock markets closed mixed with Nasdaq ending a four-day losing streak and Dow Jones Industrial Average declining by 0.58%. Asian markets closed higher on Tuesday, led by gains in various sectors. European markets were mixed, with the STOXX 600 index up 0.24%. Commodities saw Crude Oil WTI trading higher by 0.60% at $86.00/bbl, while Gold was trading lower by 0.48% at $1,978.25. US futures were up with Dow futures gaining 0.34%.

Portfolio Pulse from Akanksha Bakshi

October 24, 2023 | 10:43 am

The World Court has announced that it will hold public hearings on the legal consequences arising from Israel's occupation of Palestinian territory in February 2024.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 4:31 pm

The Pentagon has stated that it has not seen a direct order from Iran for its proxies to increase attacks against U.S. troops in the Middle East.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 3:51 pm

The Arora Report suggests that gold may break above the resistance zone, with significant buying likely coming from Asia. The 10-year Treasury yields are near 5%, causing volatility as Wall Street machines sell stocks on yields above 5% and buy on yields below 5%. 30% of S&P 500 earnings are this week, with key earnings from Microsoft, Alphabet, Meta Platforms, and Amazon. Early trade money flows are positive in Meta, NVIDIA, and Microsoft, but negative in Amazon, Alphabet, Tesla, and Apple. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. Bitcoin is above $30,000 as excitement builds on a potential spot bitcoin ETF.

Portfolio Pulse from The Arora Report

October 23, 2023 | 3:19 pm

The new trading week is expected to face challenges due to earnings concerns, fears of rate hikes, and geopolitical tensions. Major corporations including Alphabet, Microsoft, Meta Platforms, and Amazon are set to release their earnings reports this week. Surging bond yields are expected to unsettle investors as the yield on the 10-year Treasury note has surpassed 5%. Last week, major stock indices experienced a decline due to robust economic data driving bond yields higher. The release of disappointing earnings reports, including that of Tesla, compounded concerns about corporate profit growth.

Portfolio Pulse from Shanthi Rexaline

October 23, 2023 | 11:27 am

On Friday, October 20, U.S. stock markets closed in red due to concerns about potential interest rate increases and the Israel-Hamas conflict. All S&P 500 sectors experienced declines, with technology and financials leading the downturn. Asian and European markets also slid on Monday. Commodities were trading lower, with Crude Oil WTI down by 0.41% and Gold down by 0.83%. U.S. Dollar Index was up 0.06%.

Portfolio Pulse from Akanksha Bakshi

October 23, 2023 | 11:00 am

The U.S. and its allies are holding discussions over concerns that the ongoing conflict between Israel and Hamas could escalate. The situation could potentially impact global markets, including those in the U.S., Europe, and the Middle East.

Portfolio Pulse from Charles Gross

October 23, 2023 | 9:22 am

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