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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Yellow Corporation (YELL) has filed for bankruptcy, causing its stock to surge by 861% in three days due to aggressive buying by the 'meme crowd'. Despite the bankruptcy, the meme crowd is urging further investment in YELL. The article also mentions that earnings have dropped by 5.2% compared to the same quarter last year, but the stock market is significantly higher. Money flows are positive for Amazon (AMZN), NVIDIA (NVDA), and Microsoft (MSFT), but negative for Alphabet (GOOG), Meta Platforms (META), Tesla (TSLA), and Apple (AAPL).

Portfolio Pulse from The Arora Report

August 07, 2023 | 3:08 pm

The Chief of Staff for the Ukrainian President announced that participants of the weekend talks in Saudi Arabia agreed to hold another meeting of political advisers in 1-1.5 months. All countries present at the talks fully supported Ukraine's independence and territorial integrity.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 2:37 pm

The U.S. Baker Hughes Oil Rig Count has decreased by 4 from last week to 525, while the U.S. Baker Hughes Gas Rig Count remains unchanged at 128.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 5:04 pm

Russia's Deputy Prime Minister Novak has announced that the OPEC+ deal in June has been implemented by more than 100%, with Russia fully committed to the deal.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:22 pm

Positive earnings news from Amazon and other mid-cap tech stocks could help the market recover from recent declines, despite Apple's lackluster earnings. The market's rebound largely depends on the non-farm payrolls report for July. Lingering worries over Fitch’s downgrade of the U.S. credit rating, key earnings reports, and a spike in bond yields have kept sentiment subdued. Amazon's stock climbed nearly 9% in premarket trading, while Apple's fell over 1.50%. Other notable movers include Atlassian Corporation, DraftKings, Booking Holdings, Cloudflare, and Fortinet.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 3:07 pm

The White House has announced that it will continue to work with producers and consumers to ensure the energy market promotes growth, following Saudi Arabia's decision on oil production. This could potentially impact the prices of oil and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:17 pm

Investors are pinning hopes on Apple (AAPL) and Amazon (AMZN) earnings to drive the stock market higher by stoking AI frenzy. AAPL is the largest and most popular stock and carries heavy weight in the indexes. Bullish investors are expecting AAPL stock to jump to about $210 after earnings. Qualcomm (QCOM), a major supplier of technology to all smartphones including Apple, stated on its conference call that it is seeing significant weakness in phone sales in China. Money flows are negative in the early trade in Apple, Amazon, Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), and Tesla (TSLA). Money flows in the early trade in Invesco QQQ Trust Series 1 (QQQ), and SPDR S&P 500 ETF Trust (SPY) are negative.

Portfolio Pulse from The Arora Report

August 04, 2023 | 1:47 pm

Saudi Arabia has announced that its voluntary cut in oil production can be extended and deepened, according to the state news agency.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:23 pm

Saudi Arabia has decided to extend its voluntary oil cut of 1 million barrels per day (BPD) for another month, including September, according to the state news agency.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:22 pm

US stock futures are pulling back due to Fitch's U.S. ratings downgrade and negative earnings news flow. Tech stocks like Apple and Amazon are under pressure as they are due to report their quarterly results. Analysts predict a 5% pullback in the stock market. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF declined. Stocks reacting to earnings include PayPal, Occidental Petroleum, Cheesecake Factory, DoorDash, Qualcomm, Qorvo, Etsy, and EVgo.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 12:52 pm

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