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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Chinese President Xi Jinping announced China's readiness to collaborate with the EU on organizing an international peace conference aimed at addressing the Palestinian-Israeli conflict. This announcement was made during a trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen. The conference aims to establish a timetable and roadmap for a two-State solution, promoting a comprehensive, just, and lasting settlement.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:49 pm

Egypt has heightened its preparedness level in Northern Sinai following the initiation of an Israeli operation in Rafah, according to sources cited by Reuters.

Portfolio Pulse from Charles Gross

May 06, 2024 | 11:49 am

Hamas has expressed a strong determination to reach a truce agreement that meets the demands of the Palestinians. The group highlighted its positive spirit in considering the ceasefire proposal and plans to continue with the same spirit in Cairo to reach an agreement, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:58 pm

Oil prices declined due to a significant increase in US crude oil inventories, with investors also evaluating recent jobs data and the Federal Reserve's policy direction.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:22 pm

The latest U.S. Baker Hughes report shows a decrease in oil and gas rig counts. Oil rigs decreased by 7 to 499, gas rigs by 3 to 102, bringing the total rig count to 605, down from 613 the previous week.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:03 pm

The stock market is poised for an upswing as wage growth slows, signaling potential for lower inflation and interest rate cuts. SPDR S&P 500 ETF Trust (SPY) reflects this optimism. Apple Inc's (AAPL) earnings were in line with expectations, but its largest buyback announcement and optimistic guidance are driving positive sentiment. Amgen Inc (AMGN) is up on promising drug data, affecting competitors Eli Lilly (LLY) and Novo Nordisk (NVO). Early trades show positive money flows in major tech stocks and ETFs like Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), Tesla (TSLA), and Invesco QQQ Trust (QQQ). Gold, oil, and Bitcoin also see buying interest.

Portfolio Pulse from The Arora Report

May 03, 2024 | 2:59 pm

U.S. stock markets closed higher, influenced by the Federal Reserve's dovish rate guidance and mixed earnings. The Nasdaq benefited from Qualcomm's strong quarterly results, while the S&P 500 and Dow Jones also saw gains. Asian markets were mixed, with Australia's index up and India's down. European markets gained, and commodities saw mixed movements with crude oil and gold falling below key levels.

Portfolio Pulse from Akanksha Bakshi

May 03, 2024 | 10:37 am

The stock market rally initiated by Powell's dovish stance has reversed, with The Arora Report's caution proving accurate. Ahead are Apple's earnings and a significant jobs report, with mixed expectations for Apple due to challenges in China and competition from Huawei. Money flows are positive for major tech stocks and ETFs like SPY and QQQ, with the momo crowd buying aggressively. Significant selling in gold and oil was noted, while Bitcoin sees buying on dovish Powell sentiments.

Portfolio Pulse from The Arora Report

May 02, 2024 | 4:50 pm

President Biden stated that the National Guard should not intervene in campus protests, affirming no change in Middle East policy due to these protests. He emphasized the importance of upholding both the rule of law and freedom of speech.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:13 pm

Russia has exceeded the UN Security Council's annual cap of 500 barrels by shipping refined petroleum to North Korea. The U.S. is coordinating with allies to respond with sanctions.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:59 pm

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