Midday Report: Abercrombie's Efforts Bear Fruit; U.S. Stocks Languish

U.S. stocks struggled for direction as traders weighed a better-than-expected read on the jobs market with a disappointing look at crude inventories. Oil stocks rose by more than 10 million barrels last week, nearly three times the rise analysts had expected. Abercrombie &Fitch (ANF) jumped as its turnaround efforts continue to bear fruit. The teen apparel retailer reported surprise growth in same-store sales, its first increase in more than three years. Monsanto (MON) tumbled after cutting its profit outlook for 2016. The chemicals company cited a weak agricultural economy plagued by a strong U.S. dollar and lower crop prices. Exxon Mobil (XOM) slashed its guidance for 2016 capital spending by 25%. TheStreet's Keris Lahiff has details from Wall Street.