The stock market entered a slightly pessimistic mode Monday, reviving hopes that the Federal Reserve may step in with another round of economic stimulus, news reports suggested.

Reuters reported that June's manufacturing index showed factories experiencing their first contraction in three years, according to data from the Institute for Supply Management.

At the same time, investors viewing weak data on Monday became slightly more optimistic about the Federal Reserve stepping in once again with additional economic stimulus.

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kpanchuk@housingwire.com