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 article discusses the potential impact of the iPhone 15 launch on Apple's stock (AAPL), given the rising nationalism in China and the ban on government employees using iPhones. It also mentions the early trade money flows in several companies and ETFs, including Apple, Meta Platforms (META), Tesla (TSLA), Amazon (AMZN), NVIDIA (NVDA), Microsoft (MSFT), Alphabet (GOOG), SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust Series 1 (QQQ), SPDR Gold Trust (GLD), iShares Silver Trust (SLV), and United States Oil ETF (USO). Bitcoin (BTC) is also mentioned as seeing aggressive buying.

Portfolio Pulse from The Arora Report

September 12, 2023 | 4:10 pm

The U.S. Energy Information Administration (EIA) has revised its forecast for world oil demand growth in 2023, increasing it by 50,000 barrels per day (bpd) to a year-on-year increase of 1.81 million bpd. However, the forecast for 2024 has been cut by 250,000 bpd, with a year-on-year increase now expected to be 1.36 million bpd.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 4:05 pm

OPEC has maintained its 2024 non-OPEC supply-growth forecast at 1.4 million barrels per day (B/D), while increasing its 2023 non-OPEC supply-growth forecast by 100,000 B/D to 1.6 million B/D.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 12:18 pm

The Organization of the Petroleum Exporting Countries (OPEC) has maintained its global economic growth forecast at 2.6% for 2024 and 2.7% for 2023.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 12:17 pm

OPEC's crude output increased by 113,000 barrels per day (B/D) in August, reaching 27.45 million B/D. Iran's crude output also rose by 143,000 B/D to 8.97 million B/D, according to OPEC citing secondary sources.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 12:17 pm

The market outlook remains uncertain with stock index futures indicating a lower opening on Tuesday. Apple Inc. and Oracle Corp.'s guidance are influencing the tech sector sentiment. Traders are cautious ahead of the August consumer price inflation report. The Nasdaq Composite and S&P 500 recorded consecutive gains, while the Dow Industrials Average notched its third consecutive session of gains. Fund Strat predicts higher probabilities of gains this week. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF moved down. Oracle, Apple, Tesla, and WestRock Company are in focus.

Portfolio Pulse from Shanthi Rexaline

September 12, 2023 | 10:47 am

US markets ended higher on Monday, with the Nasdaq boosted by Tesla's surge due to optimism around artificial intelligence. Asian markets were mixed, with gains in Japan and Australia, but declines in China and Hong Kong. European markets were also mixed, with SAP SE shares falling due to Oracle's weak revenue forecast. Commodities saw a rise in energy prices, while US futures traded in red. Investors are awaiting August CPI data for insights into the Federal Reserve's rate hike plans.

Portfolio Pulse from Akanksha Bakshi

September 12, 2023 | 10:42 am

The Arora Report suggests a high probability of a strike by United Auto Workers (UAW) against General Motors (GM), Ford Motor (F), and Stellantis (STLA), which could negatively impact the U.S. economy. Tesla (TSLA) is expected to benefit as it is not unionized. The report also highlights heavy buying in TSLA stock due to Wall Street's positive outlook on Tesla's Dojo supercomputer. Other notable mentions include the upcoming iPhone 15 launch, which historically boosts Apple's (AAPL) stock, and the oversubscribed ARM IPO. The report also mentions positive money flows in Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOG), Meta Platforms (META), Tesla, and Apple.

Portfolio Pulse from The Arora Report

September 11, 2023 | 2:08 pm

US markets ended higher on Friday, September 8, driven by energy stocks following the decision by Saudi Arabia and Russia to extend supply cuts. However, key indexes saw weekly declines due to investor concerns over interest rates and upcoming US inflation data. Asian markets were mixed, with Japan's Nikkei 225 and Hong Kong's Hang Seng falling, while Australia's S&P/ASX 200 and China's Shanghai Composite rose. The European STOXX 600 index, Germany's DAX index, France's CAC 40, and the U.K.'s FTSE 100 all traded higher. The European Commission downgraded the Eurozone's economic growth outlook due to high inflation and Germany's recession. Commodities saw crude oil and natural gas fall, while gold, silver, and copper rose. US futures and the U.S. Dollar Index were down.

Portfolio Pulse from Akanksha Bakshi

September 11, 2023 | 11:13 am

The S&P 500 and Nasdaq are expected to rebound due to strength in Tesla and Apple. However, a possible UAW strike and caution ahead of August inflation data could temper sentiment. Oracle's earnings, treasury yields, and oil prices will be in focus. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained in premarket trading. Tesla and Apple stocks also rallied in premarket trading. FuelCell Energy and Oracle are due to report their quarterly results.

Portfolio Pulse from Shanthi Rexaline

September 11, 2023 | 10:44 am

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