Stock Market Update

[BRIEFING.COM] The major averages are little changed from previous levels despite an improvement in sector strength that now seats all eleven S&P 500 sectors at or above their baselines. 

Gains across the major averages are limited, as only the energy sector (+0.6%) holds a gain wider than 0.5%. 

The sector benefits from a rising price of oil, as WTI crude climbs $0.47, or 0.7%, to $63.72 per barrel, reclaiming a chunk of yesterday's sharp loss. Oil added to its gain after the weekly inventory report from the EIA showed a 2.39 million barrel draw.

Elsewhere in the sector, there is a mixed showing from natural gas names even though natural gas futures have jumped $0.08, or 3.5%, to $2.87 per MMBtu. Coterra Energy (CTRA 24.06, +0.16, +0.66%) is among today's leaders, while EQT Corp. (EQT 52.21, -0.50, -0.95%) is the weakest performer in the sector.