WTI crude loses nearly 8% despite equity rally
Little has changed in the market with the S&P 500 continuing to trade higher by 4.5%. The small-cap Russell 2000 is up 4.8%.  One last look at the S&P 500 sectors shows the utilities sector (+7.2%) still leading the advance, followed by the real estate sector (+5.9%). The consumer discretionary sector (+2.7%) is up the least, falling behind the materials sector (+3.3%). WTI crude futures settled down $1.93 (-7.9%) to $22.60/bbl, as investors remained bearish due to the well-documented struggles with the market. The fact that the oil industry wasn't included in the stimulus bill may have added to the poor sentiment.