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Premarket: World stocks stutter, U.S. dollar firmer as spotlight turns to Fed chief

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Markets wait to see if Fed chair Jerome Powell will push back against rate-cut speculation during remarks on Wednesday

World stocks markets stuttered on Wednesday, while the U.S. dollar continued to its rebound as traders waited to see if U.S. Federal Reserve chief Jerome Powell will push back againstOil prices were struggling and fell to fresh three-month lows on concern over waning demand from top oil consumers, the United States and China.

MSCI’s world stock index was down roughly a fifth of a percent, having last week posted its biggest weekly jump in almost a year. In Europe, utilities stocks led sectoral declines, falling 1.2% to a one-week low, with the region’s largest energy networks operator,, losing 1.8% on expectations of a severe hit to fourth-quarter profit at its retail division.

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