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 stock market is currently overbought, driven by Nvidia's upcoming earnings and expectations from the Jackson Hole meeting. Nvidia's stock is particularly overbought, with its RSI indicating a potential resistance zone. Money flows are positive for Alphabet and Tesla, neutral for Apple, Amazon, Meta, Microsoft, and Nvidia, and negative for SPY and QQQ ETFs. Investors are advised to be cautious and consider protection strategies.

Portfolio Pulse from The Arora Report

August 20, 2024 | 3:34 pm

Saudi Arabia's Sovereign Wealth Fund is in exploratory talks with Boeing and Airbus to acquire freighters for a new cargo airline. This development could impact Boeing and Airbus as potential suppliers.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 10:40 am

BP is set to develop Iraq's Kirkuk oil fields under a profit-sharing model, with a final agreement expected by the end of 2024. This development could impact BP's operations and profitability.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 10:37 am

An Israeli strike targeted a Hezbollah arms depot in Lebanon's Bekaa Valley, as reported by Reuters citing two security sources.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 5:30 pm

The stock market has rebounded to a resistance zone, with the SPDR S&P 500 ETF Trust (SPY) showing signs of being overbought. AMD is acquiring ZT Systems to enhance its AI strategy, but this move is unlikely to significantly impact Nvidia's market share. General Motors plans to cut 1,000 software jobs, while Cisco announced 4,000 job cuts. Money flows are positive in several major tech stocks, including Nvidia, Apple, and Amazon.

Portfolio Pulse from The Arora Report

August 19, 2024 | 5:29 pm

On August 16th, U.S. stock markets closed higher with the S&P 500 and Nasdaq achieving their seventh consecutive session of gains. Positive economic indicators and optimism about potential Federal Reserve rate cuts lifted investor sentiment. Most S&P 500 sectors closed higher, led by financials, tech, and utilities. Asian markets showed mixed results, with Japan's Nikkei 225 closing lower while other major indices in the region rose. European markets opened in the green, and commodities saw varied movements with gold hitting a new high. The U.S. dollar weakened amid expectations of dovish signals from the Federal Reserve.

Portfolio Pulse from Akanksha Bakshi

August 19, 2024 | 10:54 am

The latest Baker Hughes report shows a decrease in the U.S. oil rig count by 2 to 483, while the gas rig count increased by 1 to 98. The total rig count now stands at 586, down from 588 previously.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 5:04 pm

Oil prices dropped as Gaza ceasefire talks progressed and China released weak economic data. The United States Oil Fund (NYSE:USO) saw a sharp decline as WTI light crude futures fell 3% below $76 per barrel. China's economic data showed slowing industrial production and rising unemployment, adding pressure to oil prices.

Portfolio Pulse from Piero Cingari

August 16, 2024 | 1:14 pm

U.S. stock markets closed higher on Thursday, led by the Nasdaq, after strong July retail sales data. Nine of the 11 major S&P 500 sectors advanced. Asian markets also saw gains, with Japan's Nikkei 225 up 3.88%. European markets opened mixed, and crude oil prices fell by 2%. Gold remained near record highs.

Portfolio Pulse from Akanksha Bakshi

August 16, 2024 | 10:59 am

Oil prices are trading higher due to positive US economic data and ongoing Middle East tensions that could affect supply.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 7:49 pm

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