LONDON, Nov 22 Reuters Global shares hovered around threemonth highs on Wednesday and the dollar found support as investors tempered some of their earlier enthusiasm about the prospect of the start of a series of U.S. interest rate cuts.

The MSCI AllWorld index fell 0.1, down for a second day following the decline on Wall Street, after minutes from the Federal Reserve39;s most recent meeting offered little new insight into policymakers39; thinking on rates.

Overnight, the SP 500 snapped a fivesession winning streak and fell 0.2. Chipmaker Nvidia reported revenue well above Wall Street expectations after the market close, but shares fell 1.7 due to the company39;s downbeat China sales outlook.

Nasdaq futures fell 0.3 in European trading, while those on the SP 500 were down just 0.1. Volumes are likely to be light through the rest of the week because of Thursday39;s Thanksgiving holiday in the United States.

We39;re just at that moment where the market is consolidating and particularly ahead of the Thanksgiving holiday, we wouldn39;t expect to see any big moves over the coming days, City Index market strategist Fiona Cincotta said.

The Fed minutes showed policymakers pledged to proceed carefully from here, which traders did not interpret as new information, and also contained no confirmation that policymakers had ruled out more rate hikes.

They couldn39;t whisk that off the table completely. That would have created a rather larger market move, Cincotta said….