Investors skeptical over Fed's QE3, Bloomberg reports

Investors are showing their doubts about the Fed's announcement that more quantitative easing will move Americans to spend more, reports Bloomberg. The Consumer Discretionary Select Sector SPDR Fund, which includes Amazon.com (AMZN) and Macy’s (M), has lagged behind the Consumer Staples Select Sector SPDR Fund by 2.8% since September 14, the day after the Fed unveiled plans to buy mortgage- backed securities at a pace of $40B a month until the labor market improves. During the preceding six weeks, the discretionary exchange-traded fund outpaced its defensive counterpart, Bloomberg says.