Wall Street resilient as Fed hopes offset weak data

by Blog Burger on July 2, 2012

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – Stocks were only slightly lower on Monday as expectations of more stimulus from the Federal Reserve put a floor in the market after data showed the U.S. manufacturing sector contracted for the first time in nearly three years last month. The Institute for Supply Management's June manufacturing index showed the U.S. factory sector suffered its first contraction since July 2009. The data from the world biggest economy added to a picture of deteriorating business activity painted by similar surveys in Europe and China. …

Business News Headlines – Yahoo! News

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