Weak Economic Data Spurred Hopes of QE3

While there remain a few weeks before the next FOMC meeting, whether the Fed would announce QE3 still catches heated speculations. Softer than expected headline CPI, together with contraction in Empire State manufacturing index, in the US inevitably raised hopes of further easing from the central bank. Wall Street traded narrowly for most of the day before closing largely flat with the DJIA losing -0.06% and the S&P 500 gaining +0.11% respectively.

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Weak Economic Data Spurred Hopes of QE3