LONDON, TOKYO—Global equities were set for a small weekly gain on Friday following a Wall Street rally overnight, as rising bets the Federal Reserve will skip a rate increase next week overshadowed worries about U.S. markets being drained of cash.
MSCI’s broad index of global shares edged 0.2 percent higher, on track for a weekly rise of 0.6 percent.
Europe’s Stoxx 600 equity gauge was flat, following a 2 percent jump in Japan’s Nikkei, which rebounded strongly after its plunge from a 33-year high in the previous session.
Traders now lay 73 percent odds on the Fed keeping rates steady on June 14, in a range of 5 percent–5.25 percent, pausing its most aggressive hiking cycle since the 1980s….