SINGAPORE, April 19 Reuters Global stocks eased on Wednesday, while the dollar pulled further above last week39;s oneyear lows, as investor focus honed in on what the Federal Reserve may have to do to tame inflation, rather than on the recent problems in the U.S. banking sector.
The MSCI AllWorld index fell 0.2, thanks to a broadbased decline in equities around the world.
SP 500 and Nasdaq 100 futures , fell between 0.30.5, suggesting a touch of weakness at the opening bell.
Tesla reports earnings later in the day, as does Morgan Stanley, on the heels of solid earnings at rivals that seem to have soothed some concern about the sector39;s stability.
So far the major banks that have reported have largely helped to settle market nerves, said Khoon Goh, head of Asia research at ANZ in Singapore. With those stresses easing away, markets are now back to focusing on the Fed.
A slew of Fed speakers are in the frame over the rest of this week ahead of the premeeting blackout period that begins on the weekend.
The Fed39;s beige book of economic conditions is published on Wednesday and appearances are due from Chicago Fed President Austan Goolsbee and New York Fed President John Williams.
Markets are pricing an 86 chance the Fed raises rates by 25 basis points bps at the May meeting, and are winding back expectations of cuts later in the year moves that have put the brakes on U.S. dollar selling.
In an interview with Reuters on Tuesday, St Louis Fed President James…