Stocks slip, dollar gains as market awaits inflation data | U.S. & World [Video]

By Herbert Lash and Harry Robertson

NEW YORK/LONDON (Reuters) -Global equity markets mostly faltered on Wednesday as investors await fresh inflation data to better assess the likelihood of Federal Reserve interest rate cuts, while the dollar edged higher on expectations of U.S. economic out-performance.

European stocks rose to a record high, boosted by company earnings, but stocks on Wall Street slid as a downbeat forecast from Uber knocked its shares down 5.7% and made the ride-hailing firm one of the biggest decliners on the S&P 500.

The yen weakened for a third day and kept investors wary of intervention from Japanese authorities, while crude oil edged up from near two-month lows. In Europe, the Swedish crown was under pressure after the central bank cut rates as expected and said two more cuts were likely this year if inflation remained mild.

The big concern among traders and investors is whether inflation is on course to reach the …