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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On Friday, September 22, U.S. stock markets closed in the red with the S&P 500 and the Nasdaq experiencing their steepest week-to-week declines since March. Asian markets were mixed on Monday, with Japan's Nikkei 225 rising by 0.95% and China's Shanghai Composite receding 0.54%. European markets were predominantly bearish. In the commodities space, Crude Oil WTI traded up by 0.39% at $90.37/bbl. U.S. futures hinted at a subdued start.

Portfolio Pulse from Akanksha Bakshi

September 25, 2023 | 11:05 am

The U.S. Baker Hughes Oil Rig Count has decreased by 8 from last week to 507, while the Gas Rig Count has decreased by 3 from last week to 118.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 5:04 pm

The article discusses a classic gap down in bonds, which is negative for stocks. It mentions heavy volume on the gap down, indicating conviction in selling bonds. The yield on 10-year Treasuries touched 4.5%, which is used as a reference rate in determining the fair value of the stock market. Rising yields mean a lower fair value of the stock market. The article also mentions aggressive buying in Apple Inc (NASDAQ:AAPL) stock due to the launch of the iPhone 15 in retail stores. Money flows are positive in several tech companies, while mixed in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

Portfolio Pulse from The Arora Report

September 22, 2023 | 2:45 pm

A U.S. judge in Louisiana has granted a preliminary injunction and ordered an oil and gas lease sale in the Gulf of Mexico by September 30, according to a court document cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 12:18 pm

Markets are set to rebound after three days of losses, with optimism seen in Friday's trading. Rising Treasury yields have dampened risk appetite, pushing major indices lower for the third consecutive session. However, Carson Group analyst Ryan Detrick suggests that the market could rebound in October based on historical data. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF saw gains. Stocks in focus include Activision Blizzard, United States Steel Corporation, Alibaba Group, JD.com, Palantir Technologies, Amazon, and Nvidia.

Portfolio Pulse from Shanthi Rexaline

September 22, 2023 | 11:19 am

US stock markets ended lower on Thursday, Sept. 21, with the Dow Jones, S&P 500, and Nasdaq Composite falling by 1.08%, 1.64%, and 1.82% respectively. US jobless claims dropped to 201,000, and the Q2 current account deficit narrowed to $212.1 billion. Asian markets were mixed, with Japan's Nikkei 225 falling, while Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Stock Index rose. European markets were down, and commodities were trading higher. US futures were up, and the U.S. Dollar Index rose by 0.27%.

Portfolio Pulse from Akanksha Bakshi

September 22, 2023 | 10:20 am

USA Natural Gas Storage reported a figure of 64B, which is lower than the estimated 67B and higher than the prior figure of 57B.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 2:30 pm

The Federal Reserve's new dot plot indicates higher interest rates for a longer period, contradicting predictions of four rate cuts next year. This has led to significant selling in the stock market. The dot plot shows a median projection for 2024 at 5.1%, up from 4.6% in the previous plot. The Arora Report analysis suggests one to two rate cuts next year. Initial jobless claims this week were lower than expected, indicating a stronger jobs picture. The Bank of England left its rates unchanged. Negative money flows were observed in Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla. Mixed money flows were seen in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

September 21, 2023 | 2:21 pm

Following the Federal Reserve's decision to keep the federal funds rate between 5.25% and 5.5%, US and global markets experienced declines. Most S&P 500 sectors, the Dow Jones Industrial Average, the Nasdaq Composite, and Asian markets including Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Stock Exchange all closed lower. European markets and commodities also traded lower, while US futures and the U.S. Dollar Index were down.

Portfolio Pulse from Akanksha Bakshi

September 21, 2023 | 10:46 am

The U.S. and Israel are considering a U.S-run nuclear facility in Saudi Arabia as part of a deal for Saudi Arabia to normalize relations with Israel, according to The Wall Street Journal.

Portfolio Pulse from Charles Gross

September 21, 2023 | 8:43 am

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