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Crude Oil Surges 3%; Abercrombie & Fitch Shares Plunge

1. Abercrombie & Fitch's shares dropped 20% after mixed Q4 guidance. 2. The Dow gained 50 points while NASDAQ and S&P 500 declined. 3. Energy shares rose by 2.2%, contrasting declines in utilities. 4. Moderna's revenue outlook fell below expectations, impacting stock negatively.

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FAQ

Why Bearish?

Abercrombie & Fitch's significant drop reflects negative market sentiment, similar to past guidance misses.

How important is it?

Mixed guidance influences investor sentiment, critical for future stock performance.

Why Short Term?

The immediate market reaction suggests short-term instability, with potential for recovery as FY24 progresses.

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