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 Federal Reserve minutes, China's directive to funds not to sell stocks, and Intel's scrapped deal with Tower Semiconductor due to lack of Chinese approval. It also mentions positive early trade money flows in NVIDIA and Microsoft, and negative flows in Amazon, Alphabet, Meta Platforms, Tesla, and Apple. Mixed flows are reported for SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. The article also touches on housing starts, India's move to reduce dollar dominance, and oil and gold trades.

Portfolio Pulse from The Arora Report

August 16, 2023 | 2:56 pm

The Energy Information Administration (EIA) has reported that the supply of U.S. petroleum products has increased to its highest level since December 2022.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 2:50 pm

The Energy Information Administration (EIA) has reported that the U.S. refiner net input of crude oil last week reached its highest level since January 2020.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 2:45 pm

USA gasoline inventories have seen a draw of 0.261M, which is less than the estimated draw of 1.260M and the prior draw of 2.661M.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 2:32 pm

The Energy Information Administration (EIA) reported a build of 0.296M in weekly distillates stocks, contrasting with an estimated draw of 0.473M and a prior draw of 1.706M.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 2:31 pm

USA crude oil inventories have seen a draw of 5.960M, which is significantly higher than the estimated draw of 2.320M and a reversal from the prior build of 5.851M.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 2:30 pm

US stock futures indicate a muted opening on Wall Street following Tuesday's losses. The FOMC minutes and earnings reports from retailers could influence the market. Analysts predict a 5-10% pullback, seen as normal after strong first-half gains. Bond yields are decreasing and oil prices remain muted. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) saw slight premarket gains. Stocks in focus include H&R Block, Inc. (NYSE:HRB), Agilent Technologies, Inc. (NYSE:A), Target Corp. (NYSE:TGT), JD.com, Inc. (NASDAQ:JD), TJX Companies, Inc. (NYSE:TJX), Cisco Systems, Inc. (NASDAQ:CSCO), Avnet, Inc. (NASDAQ:AVT), and Wolfspeed, Inc. (NYSE:WOLF).

Portfolio Pulse from Shanthi Rexaline

August 16, 2023 | 11:21 am

The U.S. economy, which is 70% consumer-based, continues to see strong retail sales, with July retail sales coming in at 0.7% vs. 0.4% consensus. However, this has led to concerns that the Federal Reserve may maintain high interest rates for longer. Fitch has warned that it may downgrade the credit ratings of several U.S. banks, including JPMorgan Chase & Co. and U.S. Bancorp. Home Depot Inc. has guided FY23 revenue down 2-5% and earnings down 7-13%. Berkshire Hathaway Inc. is buying three home builder stocks: Lennar Corp, DR Horton Inc, and NVR Inc. Saudi Arabia and U.A.E. are buying billions of dollars worth of NVIDIA Corp chips. Money flows are negative in Amazon.com, Inc., Microsoft Corp, Alphabet Inc Class C, Meta Platforms Inc, Tesla Inc, Apple Inc, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

August 15, 2023 | 3:19 pm

US stock futures faltered on Tuesday due to China's unexpected rate cut and Home Depot's disappointing Q2 earnings report. Analysts from LPL suggest a 5-10% pullback in stocks is overdue. In premarket trading, the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF (QQQ) both retreated. Home Depot, Discover Financial Services, Cardinal Health, Tencent Music Entertainment Group, Agilent Technologies, Jack Henry & Associates, and H&R Block are all mentioned in relation to earnings reports or leadership changes.

Portfolio Pulse from Shanthi Rexaline

August 15, 2023 | 11:36 am

The U.S. total shale regions oil production for September is expected to decrease by about 19,000 barrels/day to 9.415 million barrels/day. This is a larger decrease compared to the 15,000 barrels/day fall in August.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 6:30 pm

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