LONDON—World stocks headed for their first weekly gain in a month and Wall Street was set to open higher on Friday on hopes that slides in copper and other commodities could put a brake on runaway inflation.
The week has been marked by steep declines for commodities on concern that the world economy is looking shaky and that interest rate hikes will hurt growth—which in turn is prompting traders to cut inflation expectations and pare back some bets on the size of the hikes.
“Inflation will remain elevated and above target but it’s increasingly likely it will start to peak over the next few months,” Andrew Hardy, investment manager at Momentum Global Investment Management, said….