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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Traders are looking past inflation data and focusing on key catalysts such as interest rate decisions, producer price inflation reports, and retail sales data for August. Adobe Systems, Inc. (NASDAQ:ADBE) and Lennar Corp. (NYSE:LEN) are set to release their earnings reports. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) saw gains in premarket trading. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) fell in premarket trading after an FDA panel raised concerns about one of its drugs. OKYO Pharma Limited (NASDAQ:OKYO) also saw a drop due to a common stock offering.

Portfolio Pulse from Shanthi Rexaline

September 14, 2023 | 10:52 am

US markets ended mixed on Wednesday, September 13, reacting to higher-than-expected August inflation data. The annual inflation rate rose to 3.7%, surpassing market expectations of 3.6%. Most S&P 500 sectors ended positively, with utilities and consumer discretionary stocks posting the largest gains. Asian markets and European markets traded in green. Commodities saw mixed results, with Crude Oil and Natural Gas gaining, while Gold and Silver traded lower.

Portfolio Pulse from Akanksha Bakshi

September 14, 2023 | 10:26 am

The White House has warned Iran that if it attempts to divert funds held in South Korea, the US will take action and lock them up again. The US has also stated that Iran will not be receiving any sanctions relief.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 5:39 pm

The stock market is currently directionless, with core inflation running hotter than expected. The Producer Price Index and retail sales data will be released tomorrow. Tech CEOs are heading to Washington for a session with senators on AI. Quadruple witching is expected on Friday. Positive sentiment is seen towards Indian stocks after the G-20 summit. Early trade money flows are positive in Meta Platforms, Tesla, and Apple, negative in Amazon, NVIDIA, and Alphabet, and neutral in Microsoft. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. The momo crowd is buying stocks and selling gold in the early trade.

Portfolio Pulse from The Arora Report

September 13, 2023 | 3:09 pm

The gasoline inventories have seen a significant increase of 5.56 million, far exceeding the estimated build of 237K. This could potentially impact the United States Oil Fund (USO).

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 2:31 pm

The Energy Information Administration (EIA) reported weekly distillates stocks at 3.931 million barrels, significantly higher than the estimated 1.303 million barrels and the prior figure of 0.679 million barrels.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 2:30 pm

Crude oil inventories have seen a build of 3.945 million barrels, which is significantly higher than the estimated draw of 1.912 million barrels.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 2:30 pm

Inflation concerns are causing volatility in the index futures, with a weaker-than-expected inflation print potentially leading to a strong gain. The Nasdaq Composite and the S&P 500 indices retreated on Tuesday, influenced by a negative reaction to Apple's iPhone launch event. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell in premarket trading on Wednesday. Ford Motor Co. and General Motors Corp. saw a rise in premarket trading on hopes of a resolution to the standoff with the UAW.

Portfolio Pulse from Shanthi Rexaline

September 13, 2023 | 10:41 am

US markets closed lower on Tuesday, September 12, with significant declines in the information technology and communication services sectors. The Nasdaq Composite declined due to a sharp drop in Oracle's stock following disappointing results. Asian markets also closed lower, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Stock Exchange all recording losses. European markets were down ahead of US inflation data, with the European STOXX 600 index, Germany's DAX index, France's CAC 40, and the U.K.'s FTSE 100 all trading lower.

Portfolio Pulse from Akanksha Bakshi

September 13, 2023 | 10:09 am

The American Petroleum Institute (API) reported a weekly crude oil stock build of 1.174 million barrels, against an estimated draw of 2 million barrels.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 8:35 pm

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