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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U.S. stocks closed higher as investors anticipate a September rate cut following FOMC minutes. Consumer discretionary stocks led gains, while financials and energy lagged. Asian markets showed mixed results, with Japan's Nikkei 225 and Hong Kong's Hang Seng rising. European markets advanced slightly, and commodities showed varied movements. The U.S. dollar strengthened.

Portfolio Pulse from Akanksha Bakshi

August 22, 2024 | 11:05 am

President Biden and Vice President Harris held a call with Israel's Prime Minister Netanyahu to discuss a ceasefire and hostage release deals. This diplomatic engagement may influence geopolitical stability and related markets.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 6:58 pm

The U.S. labor market's job gains were revised down by 818,000, affecting market expectations for Fed rate cuts. This led to a fall in the U.S. dollar and mixed reactions in ETFs, with utilities and gold miners rallying, while financials and oil declined.

Portfolio Pulse from Piero Cingari

August 21, 2024 | 3:58 pm

The article discusses the resilience of the U.S. consumer, highlighting Target's strong earnings and increased guidance, while Macy's underperforms. Nvidia's stock momentum has paused, and upcoming jobs data may impact markets. Money flows are positive for several tech giants, while mixed for major ETFs.

Portfolio Pulse from The Arora Report

August 21, 2024 | 3:46 pm

The EIA reported a draw of 3.312 million barrels in weekly distillate stocks, contrary to the expected build of 0.040 million barrels. This is a significant change from the prior draw of 1.673 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 2:31 pm

The latest report on USA crude oil inventories shows a draw of 4.649 million barrels, significantly higher than the estimated draw of 2.000 million barrels and contrasting with the previous build of 1.357 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 2:30 pm

The EIA reported a significant draw in distillate stocks of 4.649 million barrels, contrary to the expected build of 0.040 million barrels. This is a larger draw compared to the previous week's draw of 1.673 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 2:30 pm

U.S. stock markets closed lower, breaking an eight-day winning streak, with energy stocks declining and consumer staples gaining. Eli Lilly's shares rose due to positive drug results, while Palo Alto Networks saw a significant jump on strong forecasts. Boeing fell after an FAA directive. Asian markets were mixed, and European markets advanced. Commodities showed varied movements, with gold near all-time highs.

Portfolio Pulse from Akanksha Bakshi

August 21, 2024 | 11:37 am

The American Petroleum Institute (API) reported a weekly crude oil stock build of 347,000 barrels, contrary to the expected draw of 2.8 million barrels. This unexpected increase in crude oil inventory could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 8:48 pm

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