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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

US stocks are expected to continue their rally, with investors anticipating positive remarks from Federal Reserve Chair Jerome Powell and a strong quarterly report from Nvidia Corp. The tech-heavy Nasdaq Composite Index and the S&P 500 Index both closed higher on Monday, while the Dow Industrials Average and the small-cap Russell 2,000 Index closed lower. In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Several companies, including Zoom Video Communications, Baidu, Tesla, and Nvidia, saw their stocks rise in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 11:12 am

Major energy stocks were mixed in premarket trading as crude oil prices remained flat. Concerns over slowing demand from China and the pace of global economic recovery are influencing oil prices. Exxon Mobil Corp. (XOM) edged up 0.13%, Chevron Corp. (CVX) edged down 0.20%, Occidental Petroleum Corp. (OXY) remained largely unchanged, and the United States Oil Fund, LP (USO) slipped 0.12%.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 9:50 am

Exxon Mobil Corp has proposed a sixth oil project in Guyana, with an estimated cost of $12.9 billion. The project is expected to produce 250,000 barrels of oil per day.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 7:08 pm

The future of the stock market is expected to be influenced by Nvidia's earnings and Powell’s speech at Jackson Hole. Nvidia's earnings are expected to be released on Wednesday, and Powell will be speaking on Friday. The demand for AI chips from Nvidia is exceeding supply, and Nvidia's current quarter sales are guided to $11B, but whisper numbers are around $12B. Money flows are positive in Apple, Amazon, Meta Platforms, Microsoft, Nvidia, and Tesla, but negative in Alphabet. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. Interest rate cuts in China were less than expected, causing a sell off in Shanghai and Hong Kong.

Portfolio Pulse from The Arora Report

August 21, 2023 | 2:28 pm

An Iranian military delegation has arrived in Moscow to discuss cooperation between ground forces, as reported by Reuters citing Russia's Tass News Agency. The news may indirectly affect US-listed ETFs like EIS, SPY, USO, VGK.

Portfolio Pulse from Charles Gross

August 21, 2023 | 11:20 am

US stock futures suggest a potential rebound as traders anticipate Nvidia's earnings and the Jackson Hole Symposium. Last week, stocks closed lower due to fears of aggressive interest rate hikes. The S&P 500, Nasdaq Composite, and Dow Industrials all recorded losses. Analyst Quincy Crosby suggests that the market may wait for Jerome Powell's comments at the Jackson Hole conference before reentering. China's financial issues could also trigger a slide in financial markets, leading to increased investment in the US Treasury. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Stocks in focus include Palo Alto Networks, Tesla, Nvidia, and Nordson Corp.

Portfolio Pulse from Shanthi Rexaline

August 21, 2023 | 10:59 am

The U.S. Baker Hughes Oil Rig Count has decreased by 5 from last week to 520, while the Gas Rig Count has decreased by 6 to 117.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 5:04 pm

Hedge funds have been profiting from short selling long bonds, while asset allocators and their clients have been buying long term bonds, leading to a rise in the yield on 30 year Treasuries to 4.397%. This is reflected in the chart of iShares 20 Plus Year Treasury Bond ETF (NASDAQ:TLT). The Arora Report had advised its members to buy leveraged inverse ProShares UltraShort 20+ Year Treasury (NYSE:TBT), which has been highly profitable. Chinese bonds have recently been decimated and the yuan has been weakening against the dollar. Applied Materials, Inc. (NASDAQ:AMAT) reported strong earnings, but the stock is falling in the premarket due to general malaise about tech stocks. Money flows are negative in several tech stocks and ETFs, and Bitcoin (CRYPTO: BTC) has fallen close to $26,000.

Portfolio Pulse from The Arora Report

August 18, 2023 | 2:52 pm

Wall Street is blaming market mechanics for the recent stock market sell-off. The Arora Report had previously signaled a potential sell-off due to changing market mechanics. Market makers are gamma hedged for the first time in 2023, which is significant as market mechanics have contributed to two-thirds of the stock market rally this year. Consumer spending is strong, but excess savings are expected to run out by October. Earnings from Walmart are better than consensus. Money flows are positive in Tesla, NVIDIA, Alphabet, Apple, and Amazon, but negative in Microsoft and Meta Platforms. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

August 17, 2023 | 2:33 pm

US stock futures are showing signs of a potential rebound after a two-day slide, with Walmart Inc. (NYSE:WMT) seeing premarket gains following its above-consensus Q2 results and upgraded full-year forecast. The market is likely to focus on outcomes from a regional manufacturing survey, jobless claims, and the leading economic index. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) also saw premarket gains. Stocks in focus include Cisco Systems, Inc. (NASDAQ:CSCO), Avnet, Inc. (NASDAQ:AVT), Wolfspeed, Inc. (NYSE:WOLF), Bilibili, Inc. (NASDAQ:BILI), Children’s Place, Inc. (NASDAQ:PLCE), Bill Holdings, Inc. (NYSE:BILL), Applied Materials, Inc. (NASDAQ:AMAT), Farfetch Ltd. (NYSE:FTCH), and Ross Stores, Inc. (NASDAQ:ROST).

Portfolio Pulse from Shanthi Rexaline

August 17, 2023 | 11:44 am

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.