If not the equity markets, the Fed certainly gave crude oil prices a direction. Crude is currently up 4% on "Signs of a stronger economy." Both the Dow and the S&P 500 have been led down today by financial stocks, because illiquid markets will result in recession.
So far the only sector expected to post a year-over-year decline in any of the next four quarters is financials. Bottom line: either the estimates will be revised or the oil traders are wrong.