COMEX Copper extended recent streak of gains to head towards a three-week high on Wednesday morning in Asia although rebound in dollar overseas could cap gains in the red metal. Substantial gains in US equities overnight also supported gains in the counter that is currently quoting at $4.89 per pound, up 0.30%on the day. The Dow soared 1,016.57 points or 2.7 percent to 39,186.98, the Nasdaq spiked 429.52 points or 2.7 percent to 16,300.41 and the S&P 500 shot up 129.56 points or 2.5 percent to 5,287.76. On the MCX, Copper futures are seen supported above Rs 860 per kg. In its latest World Economic Outlook, the IMF warned that the US is confronting an increased risk of recession as it downgraded its outlook for all G7 nations, along with other major economies including China, India, Brazil and South Africa. The global economic growth is set to slow down in the coming months, largely due to the trade war sparked by US President Donald Trump's steep tariffs on virtually all trading partners, the International Monetary Fund (IMF) said on Wednesday.