NEW YORK (Reuters) - The dollar pared gains after hitting an 8-1/2-month high against major currencies on Monday, while the prospect of further European Central Bank stimulus dragged the euro, and oil futures fell on worries about a growing supply glut.
Global stock markets were mixed, with Wall Street ending the session lower ahead of a crucial payroll report Friday, while European shares finished higher. The three major U.S. indexes ended November higher for a second straight month."There's apprehension on the part of investors to make any big commitments ahead of the data and potential policy moves coming up," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. The jobs report is arguably the most important U.S. economic indicator due out before the Federal Reserve decides on Dec. 16 whether or not to raise interest rates for the first time in nearly a decade. It is widely expected to raise rates.The Dow Jones industrial average <.dji> fell 78.57 points, or 0.44 percent, to 17,719.92, the S&P 500 <.spx> lost 9.7 points, or 0.46 percent, to 2,080.41 and the Nasdaq Composite <.ixic> dropped 18.86 points, or 0.37 percent, to 5,108.67.The week is expected to highlight the divergent economic policies in the United States and the euro zone, which may set the tone for markets early next year.European shares were lifted by the prospect of the ECB unveiling an extension of its bond-buying program at a Thursday meeting. The pan-European FTSEurofirst 300 index <.fteu3> rose 0.4 percent for a 2.3 percent monthly gain. The dollar index <.dxy>, which measures the greenback against a basket of major currencies, was up 0.17 percent despite disappointing data on U.S. business sentiment and pending home sales. The index hit its highest point since mid-March and had its biggest monthly rise since January.The euro