NEW YORK/LONDON, Nov 8 - World stock markets stuttered on Wednesday while the dollar gained for a third straight day, as investors seek insight into the U.S. Federal Reserve's stance on interest rates that many on Wall Street believe has peaked but the timing of a cut is unclear.
Fed Chair Jerome Powell did not comment on monetary policy or the economic outlook in prepared remarks at a U.S. central bank statistic conference. Investors nevertheless have ramped up bets for Fed rate cuts next year, though when is in question. "We're in this honeymoon period where people can believe that the data is still OK, slowing, but still OK," he said.
Europe's broad STOXX 600 index rose 0.4%, while on Wall Street, the Dow Jones Industrial Average fell 0.1%, the S&P 500 lost 0.08% and the Nasdaq Composite dropped 0.17%. In Europe, utilities stocks led sectoral declines, falling 1.2% to a one-week low, with the region's largest energy networks operator, E.ON , losing 1.8% on expecting a severe hit to fourth-quarter profit at its retail division.U.S. crude futures fell 1.95% to $75.86 per barrel and Brent was at $80.15, down 1.79% on the day.
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