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GLOBAL MARKETS-Stocks dip after recent Fed-driven gains; oil slips
* World stocks dip, set for best week in about 2 months
* Oil slips
* U.S. stocks down in early U.S. trading (Updates with early U.S. market activity, changes dateline, previous LONDON)
By Caroline Valetkevitch
NEW YORK, Sept 23 (Reuters) - World stock indexes edged lower on Friday, pulling back after recent gains fueled by optimism that the U.S. Federal Reserve will hold off from raising interest rates in the near term, while U.S. Treasury yields were little changed.
Still, benchmark U.S. yields hovered near two-week lows as traders moved to the sidelines following a recent bond market rally.
MSCI (Frankfurt: 3HM.F - news) 's all-country world stock index shed 0.4 percent but was on track for its biggest weekly gain since mid-July.
"There is some consolidation after the very active and positive week for stocks based on news flow from the central banks," said David Donabedian, chief investment officer of Atlantic Trust Private Wealth Management.
The Dow Jones industrial average was down 45.78 points, or 0.25 percent, at 18,346.68, the S&P 500 lost 4.56 points, or 0.21 percent, to 2,172.62 and the Nasdaq Composite dropped 11.44 points, or 0.21 percent, to 5,328.09.
Europe's STOXX 600 was down 0.8 percent.
U.S. benchmark 10-year Treasury notes were up 1/32 in price for a yield of 1.627 percent, down 0.5 basis point from Thursday. Earlier on Friday, it touched 1.606 percent, its lowest since Sept. 9, Reuters data showed.
In the foreign exchange market, Boston Fed President Eric Rosengren's comments that he believed U.S. short-term interest rates should be raised now helped lift the dollar index, which was last up 0.1 percent at 95.531.
The dollar index was still on track for its worst week in a month.
Oil prices fell as investors awaited details on Saudi and Iranian positions ahead of a potential production freeze.
Brent crude oil was down 0.4 percent at $47.46 a barrel, while U.S. crude was down 0.9 percent at $45.91.
For the week, Brent was up 4 percent and U.S. crude gained 7 percent for their biggest advance since the week ended Sept. 19. (Additional reporting by Patrick Graham in London; Editing by Bernadette Baum)
