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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Global markets showed mixed responses with Asia markets mixed, Europe dipping, and US markets closing mixed influenced by Treasury yields, tech earnings, and economic data. Copper prices rose following BHP's buyout offer to Anglo American, affecting the stock prices of both companies. Economic indicators such as U.S. mortgage applications, orders for durable goods, and crude oil inventories also influenced market movements.

Portfolio Pulse from Akanksha Bakshi

April 25, 2024 | 10:57 am

Yemen's Houthi rebels have claimed responsibility for targeting the 'MSC Veracruz', an Israeli ship, in the Indian Ocean, according to Reuters. The incident could escalate tensions in the region and potentially impact global shipping routes.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:35 pm

Yemen's Houthi rebels have announced the execution of three military operations in the Gulf of Aden and the Indian Ocean, according to Reuters. The specifics of these operations were not detailed, but such actions could potentially impact maritime security and trade routes in these strategic waters.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:33 pm

Elon Musk's comments on the future of cars and AI have positively influenced the stock market, despite Tesla's worse-than-expected Q1 earnings. Musk's vision for Tesla includes developing low-priced cars, deploying a fleet of 1M robotaxis, and significantly increasing AI training capacity. This has also boosted sentiment for AI-related stocks like NVIDIA, AMD, and others. Additionally, Boeing and Vertiv Holdings reported well-received earnings, and there's strong data on durable orders. Early trade shows positive money flows in several major stocks and ETFs.

Portfolio Pulse from The Arora Report

April 24, 2024 | 3:27 pm

The latest EIA Weekly Distillates Stocks report showed a build of 1.614 million barrels, contrasting with the expected draw of 0.900 million barrels and the previous week's draw of 2.760 million barrels.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:31 pm

USA crude oil inventories experienced a significant draw of 6.368 million barrels, contrasting with the estimated build of 1.6 million barrels and the previous build of 2.735 million barrels.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 2:31 pm

U.S. stock markets closed higher, driven by strong earnings and interest in growth stocks, with Tesla's stock surging 6% after hours despite lower-than-expected revenue. The S&P Global composite PMI dropped, while new home sales rose. Asian and European markets also saw gains, with Japan's Nikkei 225 leading. Commodities saw mixed results, and the U.S. dollar index rose.

Portfolio Pulse from Akanksha Bakshi

April 24, 2024 | 10:47 am

The API reported a weekly crude oil stock draw of 3.230 million barrels, contrasting with the estimated 1.8 million barrel build. This indicates a decrease in crude oil inventories, contrary to expectations.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 8:41 pm

The Pentagon has urged the Iraqi government to take all necessary measures to protect U.S. forces stationed in the country, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:54 pm

The Arora Report indicates profitable hedges and semiconductor stabilization after a 17% drop, highlighting the sector's leading role and its central position in the AI revolution. Notable earnings from General Motors and Cadence Design Systems show mixed signals for the market. Early trade money flows are positive for several tech giants, neutral for Apple, and mixed for major ETFs. The article also discusses strategies for protection bands and portfolio adjustments in the current market environment.

Portfolio Pulse from The Arora Report

April 23, 2024 | 3:25 pm

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