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 growth fears due to weak ISM Manufacturing Index data, which has increased the probability of a rate cut in September. Nvidia's announcement of a new AI chip platform, Rubin, is helping to support the market. Early trade shows mixed money flows among major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

June 04, 2024 | 4:11 pm

The White House has announced that Hamas has not yet responded to an Israeli proposal for a hostage deal. The U.S. government will continue to work with Israeli Prime Minister Netanyahu to finalize the proposal.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 4:03 pm

On June 3rd, U.S. stock markets showed mixed results with the S&P 500 and Nasdaq gaining modestly, while the Dow Jones declined. A technical glitch at the NYSE caused fluctuations in Berkshire Hathaway and Barrick Gold shares. U.S. construction spending and ISM manufacturing PMI data were disappointing. Asian and European markets mostly declined, with significant drops in Indian stocks due to election uncertainties. Crude oil prices fell due to OPEC+ production signals and economic concerns.

Portfolio Pulse from Akanksha Bakshi

June 04, 2024 | 10:47 am

President Biden is set to sign an executive order on border security, and G7 leaders have endorsed a Gaza deal announced by Biden. Additionally, the NYSE has resolved a technical glitch.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 8:42 pm

President Biden has announced the purchase of an additional 3 million barrels of oil for the Strategic Petroleum Reserve. This move is likely to impact the energy sector and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 7:11 pm

G7 leaders have fully endorsed and supported the Gaza deal outlined by President Biden, reaffirming their support for a two-state solution. They call on Hamas to accept the deal and urge influential countries to ensure compliance.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 6:40 pm

The U.S. State Department has expressed complete confidence that Israel agrees to a ceasefire proposal. The deal was submitted to Hamas on Thursday, and a response is still pending.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 5:27 pm

India's stock market hits a lifetime high on exit polls predicting a landslide victory for Modi's BJP, while Mexico's peso and stocks fall on election results. AI advancements are announced by NVIDIA and AMD. Positive money flows are seen in major tech stocks and ETFs, while oil prices fall due to OPEC+ production changes.

Portfolio Pulse from The Arora Report

June 03, 2024 | 4:44 pm

The White House announced that if Hamas accepts the Gaza proposal and Phase One begins, the first batch of hostages would be released, and Israel would withdraw its military from population centers.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 4:14 pm

An Iranian military adviser was killed in Syria during an Israeli attack on Sunday, according to Iran's news agency SNN.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 3:26 pm

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