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 impact of a strong jobs report on the stock market, highlighting increased volatility and the actions of smart money and the momo crowd. It also covers the early trade money flows in major tech stocks, the cessation of gold buying by China's central bank, and the implications for various ETFs.

Portfolio Pulse from The Arora Report

June 07, 2024 | 4:49 pm

The U.S. Energy Department is seeking to purchase an additional 6 million barrels of oil to replenish the Strategic Petroleum Reserve (SPR). This move is part of the government's ongoing efforts to stabilize energy supplies and prices.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 4:35 pm

The Israel-Hamas conflict has escalated following an Israeli airstrike on a Gaza school, resulting in civilian casualties. The NAACP has called for a halt to US weapons deliveries to Israel, which could impact President Biden's support among Black voters. The US has also warned Israel against engaging in a war with Lebanon. The iShares MSCI Israel ETF (EIS) fell 0.5%, while the United States Oil Fund (USO) rose 1.9%.

Portfolio Pulse from Piero Cingari

June 06, 2024 | 8:24 pm

The Qatari Foreign Ministry spokesperson announced that Hamas has not yet responded to the latest ceasefire proposal and is still studying it.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 7:44 pm

Nvidia has surpassed Apple in market capitalization, driven by strong AI-related news and Wall Street activity. The European Central Bank has cut interest rates by 25 bps, widening the policy gap with the Fed. Initial jobless claims indicate a cooling labor market. Early trade shows positive money flows for Nvidia, neutral for Amazon, Microsoft, Alphabet, Tesla, and Apple, and negative for Meta. Mixed flows are observed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

June 06, 2024 | 3:43 pm

An Israeli military spokesperson has denied claims by the Houthi group that they attacked Haifa Port. The spokesperson stated that the claims are not true.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:13 pm

U.S. stock markets closed higher with record highs for the S&P 500 and Nasdaq, driven by strong tech stocks and positive economic indicators. Asian markets mostly gained, while European markets also saw increases. Commodities like gold and oil traded higher, and U.S. futures showed mixed results.

Portfolio Pulse from Akanksha Bakshi

June 06, 2024 | 11:08 am

Russian President Vladimir Putin highlighted the strong prospects for high-tech cooperation between Russia and China, praised China's economic model, and criticized the USA for attempting to hinder China's economic development. Additionally, Putin noted the positive development of Russia-Iran relations and expressed a desire for increased high-tech collaboration with Iran.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 6:34 pm

The article discusses the current market dynamics where investors are buying stocks on lower yields due to softer economic data. It highlights the performance of various assets including bonds, stocks, and commodities, and provides insights into the behavior of the 'momo crowd' and 'smart money'. Key economic reports and upcoming events are also mentioned.

Portfolio Pulse from The Arora Report

June 05, 2024 | 3:54 pm

The U.N. Atomic Agency has censured Iran over its nuclear activities, despite threats of retaliation from Iran, which has threatened to reduce monitoring of its nuclear program. The U.S. opposed the European push for censure but ultimately voted in favor.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 3:31 pm

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