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 U.S. State Department has reported 32 American deaths and 11 unaccounted for amid the ongoing Middle East conflict. The news may impact the performance of certain ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:47 pm

The U.S. State Department has announced plans to evacuate American citizens from Gaza if the Rafah Gate opens. It also expects to be able to deliver humanitarian assistance and wants to see sustained aid going into Gaza.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:44 pm

U.S. Envoy David Satterfield met with Israeli and Egyptian officials to develop mechanisms for getting aid into Gaza. Details for the humanitarian aid will be released in the coming days.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:40 pm

The American military has successfully intercepted two separate drone strikes in Syria, following similar incidents in Iraq. The attempted attacks are part of a series of incidents over the last 48 hours targeting U.S. forces in Iraq and Syria. U.S. officials have expressed concern about such attacks amid escalating conflict in Israel and Gaza, warning that Iran and other countries hostile to the U.S. could seek to take advantage of the instability in the region.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:20 pm

Tesla's stock is in a downtrend due to rising interest rates, despite the company's strong product lineup and competitive pricing. Taiwan Semiconductor's profits fell by 25%, but the company predicts a drop in industry inventory levels, indicating a potential buying opportunity in semiconductors. Two ETFs, Global X Artificial Intelligence & Technology ETF and VanEck Semiconductor ETF, are of special interest. The market is awaiting Fed Chair Powell's speech for clues on monetary policy. Jobless claims are lower than expected, indicating a strong job market. Nokia is laying off 14,000 employees. Money flows are positive in Amazon, Alphabet, Meta Platforms, Microsoft, and NVIDIA, neutral in Apple, and negative in Tesla.

Portfolio Pulse from The Arora Report

October 19, 2023 | 3:29 pm

The USA Natural Gas Storage reported a figure of 97B, which is higher than the estimated 80B and the prior figure of 84B.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 2:30 pm

Greenpeace has lost a legal challenge against the UK government's decision to authorize new North Sea oil and gas licenses. This could potentially increase the supply of oil and gas, impacting related ETFs.

Portfolio Pulse from Charles Gross

October 19, 2023 | 11:26 am

US stocks are set for a mixed opening due to a blend of earnings reports and increasing economic uncertainty. Tesla's underwhelming Q3 results are pressuring sentiment, offset by positive performances from companies like Netflix. A fresh wave of earnings reports, mainly from regional banks, is expected. Traders are also watching key economic data and speeches from Federal Reserve officials. Bond yields remain high and crude oil prices have pulled back. The S&P 500 is expected to recover off the 4,200 support level.

Portfolio Pulse from Shanthi Rexaline

October 19, 2023 | 11:03 am

Israeli Prime Minister Netanyahu has informed UK Chancellor Rishi Sunak that the October 7 attack by Hamas was aimed at disrupting Israel's regional peace efforts. He also stated that the conflict in Gaza will be prolonged and that Israel requires support from the UK.

Portfolio Pulse from Charles Gross

October 19, 2023 | 10:53 am

On October 18, U.S. stock markets ended lower due to rising Treasury yields and investor assessments of recent corporate earnings and forecasts. The Dow Jones Industrial Average declined by 0.98%, the S&P 500 dipped 1.34%, and the Nasdaq Composite fell by 1.62%. Asian and European markets also experienced declines, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and the European STOXX 600 index all closing lower. Crude Oil WTI was trading lower by 1.65% at $85.83/bbl, and Brent was down 1.81% at $89.84/bbl.

Portfolio Pulse from Akanksha Bakshi

October 19, 2023 | 10:39 am

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