GLOBAL MARKETS-Stocks Decline after Friday's Jump, US Dollar Climbs

GLOBAL MARKET - NEW YORK. Major stock indexes eased on Monday after gaining on Friday when U.S. Federal Reserve Chair Jerome Powell indicated that a September interest rate cut was likely but not certain, while the dollar gained. The dollar fell last week following Powell's remarks at the Fed's annual symposium in Jackson Hole, Wyoming. U.S. Treasury yields were higher on Monday.

Major brokerages, including Barclays, BNP Paribas and Deutsche Bank, now expect a 25-basis-point Fed rate cut in September. Fed funds futures traders are pricing in 84% odds of a September cut, according to the CME Groupâ??s FedWatch Tool.