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 American Petroleum Institute (API) reported a weekly crude oil stock draw of 4.210 million barrels, significantly higher than the estimated 92,000 barrel draw.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 8:35 pm

The government of Niger has banned the export of liquefied petroleum gas (LPG) until further notice, according to Reuters. This decision could potentially impact the global supply of LPG.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 8:10 pm

Exxon's Baytown Texas crude unit is expected to remain shut down through October, according to Reuters. This could potentially impact the company's production and revenue.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 6:39 pm

The article discusses three common mistakes investors make in the stock market, using Nextera Energy Partners LP (NEP) and NextEra Energy Inc (NEE) as examples. Both stocks have been aggressively promoted to investors, particularly those chasing dividends, and have seen significant drops in their stock prices due to rising interest rates and lowered dividend growth rates. The article also mentions early trade money flows, with positive flows in NVIDIA Corp (NVDA) and negative flows in Apple Inc (AAPL), Amazon.com, Inc. (AMZN), Alphabet Inc Class C (GOOG), Meta Platforms Inc (META), Microsoft Corp (MSFT), and Tesla Inc (TSLA). Mixed flows are reported for SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ).

Portfolio Pulse from The Arora Report

October 03, 2023 | 2:59 pm

Fitch Ratings agency predicts a small oil-market deficit in Q3 and Q4, according to Reuters. This could potentially impact the prices of oil-related ETFs such as SPY and USO.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 1:14 pm

The S&P 500 and Nasdaq futures are wavering as the market turns its focus to the JOLTS data. Analysts from LPL Financial suggest that expecting a strong Q4 this year could be tricky due to factors such as a potential government shutdown, high interest rates, and a strong dollar. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) saw slight increases in premarket trading. Stocks in focus include ALX Oncology Holdings (ALXO), Nvidia Corp (NVDA), McCormick & Company (MKC), and Cal-Maine Foods (CALM).

Portfolio Pulse from Shanthi Rexaline

October 03, 2023 | 10:54 am

On October 2, the US stock market ended mixed with the S&P 500 remaining almost unchanged. Nvidia (NVDA) shares jumped 2.9% after Goldman Sachs added the chipmaker to its conviction list of preferred stocks. Asian and Eurozone markets fell, with Japan’s Nikkei 225 and Australia’s S&P/ASX 200 experiencing losses. The Hang Seng index in Hong Kong declined 3%, led by declines in its real estate and energy sectors. The European STOXX 600 index, Germany’s DAX, and France’s CAC 40 also slid.

Portfolio Pulse from Akanksha Bakshi

October 03, 2023 | 10:34 am

The surge in Treasury yields has led to a 2% drop in the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT). The S&P 500, Dow Jones, and Russell 2000 indices all fell, while the Nasdaq 100 rose slightly. The SPDR S&P 500 ETF Trust (NYSE:SPY), SPDR Dow Jones Industrial Average ETF (NYSE:DIA), and Invesco QQQ Trust (NASDAQ:QQQ) all fell. The Technology Select Sector SPDR Fund (NYSE:XLK) and the Communication Services Select Sector SPDR Fund (NYSE:XLC) rose, while the Utilities Select Sector SPDR Fund (NYSE:XLU) and Energy Select Sector SPDR Fund (NYSE:XLE) fell. Stocks of Danaher Corp. (NYSE:DHR), Kellogg Co. (NYSE:K), WK Kellogg Co. (NYSE:KLG), and NextEra Energy Inc. (NYSE:NEE) fell, while Z Scaler Inc. (NASDAQ:ZS) rose.

Portfolio Pulse from Piero Cingari

October 02, 2023 | 6:21 pm

Oil has been on a significant run due to factors such as the energy transition, the Ukrainian crisis, and OPEC+ cutting production. The article discusses the options positioning on oil and mentions the use of ETF USO (NYSE:USO) to understand this. Menthor Q, a TradeTech company, provides quantitative models for this purpose. The company is also set to release Options Screeners to help filter Stocks, ETFs, and Indices based on the option chain data.

Portfolio Pulse from Menthor Q Research

October 02, 2023 | 6:07 pm

International Energy Agency (IEA) Executive Director Birol stated that subsidies are a major incentive to increase fossil fuel use and eliminating them is crucial. This statement could impact the fossil fuel industry and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 3:58 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.