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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USA Natural Gas Storage reported a figure of 86B, lower than the estimated 92B and the prior figure of 90B.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 2:30 pm

The US stock market is expected to open slightly lower on Thursday, following a recovery on Wednesday. The dollar and crude oil are surging in tandem, which could impact economies, industries, and consumers. This could challenge corporate profits, especially for US exporters and multinationals, as higher oil prices increase costs and a stronger dollar makes their products less competitive. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.07% and the Invesco QQQ ETF (NASDAQ:QQQ) edged up 0.01%. Stocks in focus include Sirius XM Holdings Inc. (NASDAQ:SIRI), The Clorox Company (NYSE:CLX), Rivian Automotive, Inc. (NASDAQ:RIVN), Conagra Brands, Inc. (NYSE:CAG), Constellation Brands, Inc. (NYSE:STZ), and Levi Strauss & Co. (NYSE:LEVI).

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 11:16 am

US stock markets ended higher on October 4, led by Nasdaq Composite, due to lower than expected private payrolls data for September. This data alleviated concerns of another Federal Reserve rate hike this year. Asian markets also saw gains, with Japan's Nikkei 225 and Australia's S&P/ASX 200 rising. However, Eurozone markets traded mixed, and US futures were down. Crude oil prices fell, while gold and silver rose.

Portfolio Pulse from Akanksha Bakshi

October 05, 2023 | 11:06 am

USA gasoline inventories have seen a significant increase of 6.481 million, compared to the estimated build of 0.161 million and the prior build of 1.027 million.

Portfolio Pulse from Happy Mohamed

October 04, 2023 | 2:31 pm

The Arora Report suggests a major buying opportunity in the stock market if the market mechanic turns to the upside. The report highlights the potential for a short squeeze and run up in iShares 20 Plus Year Treasury Bond ETF (TLT) if favorable macro data is released. Weak data from Automatic Data Processing Inc (ADP) is lifting bonds and stocks. Money flows are positive in Amazon.com, Inc. (AMZN), Alphabet Inc Class C (GOOG), Meta Platforms Inc (META), NVIDIA Corp (NVDA), and Tesla Inc (TSLA), but negative in Apple Inc (AAPL) and Meta Platforms Inc (META). Money flows are mixed in SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ).

Portfolio Pulse from The Arora Report

October 04, 2023 | 2:31 pm

The Energy Information Administration (EIA) reported a draw of 1.269 million barrels in weekly distillates stocks, compared to an estimated draw of 0.333 million barrels and a build of 0.398 million barrels in the previous week.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 2:30 pm

USA Crude Oil Inventories reported a draw of 2.224 million barrels, higher than the estimated draw of 0.446 million barrels and the prior draw of 2.170 million barrels.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 2:30 pm

Russia's Energy Minister Alexander Novak has stated that there is a record-high global oil demand. He also mentioned that OPEC+ may adjust its decisions if necessary.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 12:24 pm

The equity market continues to face uncertainty due to unclear interest rate trajectory and political instability. High bond yields and increased job openings have further weakened the market. The S&P 500, Nasdaq, and Dow are all at a four-month low. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF have both seen a decrease in premarket trading. Apple's stock has been downgraded, while Palantir and Intel have seen increases due to recent announcements. The iShares 20+ Year Treasury Bond ETF is also seeing a drawdown.

Portfolio Pulse from Shanthi Rexaline

October 04, 2023 | 11:27 am

On October 3, U.S. markets closed in the red due to rising Treasury yields and no immediate Federal Reserve interest rate cut. Job openings in August surpassed market expectations. All sectors in the S&P 500, except utilities, declined. The Dow Jones, S&P 500, and Nasdaq Composite all closed lower. Asian markets also fell, while Eurozone traded in green. Crude oil traded under $90. U.S. Dollar Index was down 0.15%.

Portfolio Pulse from Akanksha Bakshi

October 04, 2023 | 10:32 am

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