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 experiencing a consolidation phase with mixed money flows in major tech stocks and ETFs. Despite a weak Treasury auction, the market saw a strong oversold bounce driven by short covering. Fed officials are not in favor of an emergency rate cut, and Bitcoin has surged above $60,000. Investors are advised to maintain a protection band and consider tactical positions in bonds.

Portfolio Pulse from The Arora Report

August 09, 2024 | 4:01 pm

An Israeli strike in Lebanon has resulted in the death of a Hamas security official, according to AFP.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 3:50 pm

U.S. stock markets closed higher on August 8, with the Nasdaq and S&P 500 gaining over 2% due to a drop in jobless claims. Eli Lilly shares surged 9.5% after raising its profit forecast. Asian markets were mixed, while European markets opened in green. Commodities saw minor changes, with gold trading near its all-time high.

Portfolio Pulse from Akanksha Bakshi

August 09, 2024 | 10:49 am

The article discusses the impact of a weak Treasury auction and jobless claims on the stock market. It highlights the importance of monitoring the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ), as well as the Magnificent Seven stocks (AAPL, AMZN, GOOG, META, MSFT, NVDA, TSLA). The Bank of Japan's hawkish stance and the weak Treasury auction have led to market volatility. Investors are advised to consider protection bands and focus on high-quality bonds.

Portfolio Pulse from The Arora Report

August 08, 2024 | 4:25 pm

Meta Platforms Inc. (META) has successfully monetized AI, reporting strong earnings with a 22% increase in revenues and a 73% increase in earnings. In contrast, Microsoft Corp. (MSFT) and Alphabet Inc. (GOOG) are struggling to monetize AI. Nvidia Corp. (NVDA) benefits significantly from AI spending, adding over $300B in market cap in one day. Advanced Micro Devices, Inc. (AMD) is also making inroads in AI. Arm Holdings PLC (ARM) and Qualcomm Inc. (QCOM) gave tepid forecasts. Jobless claims are increasing, and the Bank of England cut its interest rate to 5%. Money flows are positive in AAPL, AMZN, META, MSFT, NVDA, SPY, and QQQ, neutral in GOOG, and negative in TSLA.

Portfolio Pulse from The Arora Report

August 08, 2024 | 1:37 pm

The article advises investors to raise cash and hedge positions, especially in AI and tech stocks, due to a weak jobs report and negative money flows in major tech stocks and ETFs. The jobs report indicates worsening employment conditions, contributing to market sell-offs. Earnings from Amazon and Intel were below expectations, while Apple's earnings were better but with disappointing growth in China. The article suggests a cautious approach with a protection band strategy.

Portfolio Pulse from The Arora Report

August 08, 2024 | 1:37 pm

The article discusses the impact of the Bank of Japan's rate hike on global stocks, particularly through the unwinding of carry trades. This has led to aggressive selling in AI-related semiconductor stocks and the Magnificent Seven stocks. Warren Buffett's Berkshire Hathaway has sold a significant portion of its Apple holdings, increasing its cash position. The article also mentions delays in NVIDIA's next-generation chip and negative money flows in major ETFs and stocks. Investors are advised to consider hedges and protection bands to navigate the current market volatility.

Portfolio Pulse from The Arora Report

August 08, 2024 | 1:37 pm

The article discusses the current market conditions, focusing on the Nasdaq 100 ETF (QQQ) and the impact of the carry trade unwind. It highlights that there is no 'back up the truck and buy stocks' signal yet, and CTAs are likely to sell rallies. Positive money flows are noted in several major tech stocks and ETFs, while Apple (AAPL) sees negative flows. The article also touches on the importance of maintaining a protection band and the traditional 60/40 portfolio strategy.

Portfolio Pulse from The Arora Report

August 08, 2024 | 1:36 pm

Yemen's Houthis have claimed responsibility for targeting the Contship Ono ship in the Red Sea and two US destroyers north of the Red Sea.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 4:43 pm

The latest report shows that USA gasoline inventories have increased by 1.340 million barrels, contrary to the expected draw of 1.900 million barrels. This follows a previous draw of 3.665 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 2:30 pm

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