Shares in embattled property developer China Evergrande, which has two trillion yuan ($310 billion) in liabilities and faces an $80 million bond coupon payment next week
Spot gold rose 0.5% to $1,762.55 per ounce by 0716 GMT, while U.S. gold futures GCv1 gained 0.4% to $1,762.80.
Bullion is viewed as a hedge against the inflation and currency debasement likely from widespread stimulus
Biden corporate tax hike in focus; S&P energy sector jumps 3.3%
The S&P 500 has gone 34 days without rising 1% in any of them
Gold continues to remain a buy on dips because central banks are in no hurry to raise interest rates
Continuing claims for state benefits fell to 2.78 million in the week ended Aug. 28.
European stocks retraced ahead of an ECB policy meeting on Thursday. The STOXX 600 benchmark was down 0.5% but just below its lifetime peak hit in August.
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Brent crude futures were up 22 cents, or 0.3%, to $73.25 a barrel at 0911 GMT
Continuing claims for state benefits fell to 2.7 million in the week ended Aug. 21.
Powell said US economy continued to make progress towards the central bank's benchmarks for reducing its pandemic-era emergency programs, but stopped short of signaling the timing for any policy shift
All the 11 major S&P sectors were up, with energy, materials and communication services jumping 1% each.
The STOXX index of 600 European companies, nudged 0.15% higher to 472.51 points, less than four points from its record high from earlier this month
Stocks in Asia, Europe and Wall Street futures all made gains, setting them on a recovery course after Chinese regulatory worries triggered a sell-off last week.
Signs of caution abound, even as U.S. stocks hover near record highs.
Wall Street opened sharply lower as investors digested data showing U.S. retail sales fell more than expected in July
A key jobs report due later in the day is expected to deliver further signs of growth in the United States
Shares of Robinhood Markets Inc soared almost 82% on Wednesday before paring gains, helped by a surge of interest from retail traders who have piled into the stock