Fed Chairman Powell's speech, over 400 seen by Dow

Investing.com – Wall Street shares jumped right after the release of Federal Reserve Chairman Jerome Powell's text several times, many of them saying it would less necessary to proceed to regular rate increases in 2019. [19659004] The index jumped more than 445 points, an increase of about 1.8% at 12:20 (17:20 GMT).

The increase was 1.46% and the gain was 1.66%.

"Interest rates remain low historical standards, and they remain just below the wide range of estimates of the level that would be neutral to the economy – that is, not accelerating not slowing growth, "said Powell in his remarks prepared in New York.

Investors believe that the Fed can end its steady tightening cycle once the neutral rate is reached.

million. Powell said the "gradual pace of rising interest rates by the Fed was to balance the risks," but added "there is no predefined political path."

Stocks were already in the green bef After the visit of Larry Kudlow, economic adviser to the White House, the possibility that the United States and China reach a trade agreement was greeted by Powell.

"Trade has been a problem for a long time and everything suggests that relations between China and the United States A trade dispute could be resolved could lead to a recovery in global growth, "said Kim Forrest, Senior Portfolio Manager at Fort Pitt Capital Group in Pittsburgh

Technicians were helped by Salesforce.com's Quarterly Earnings Quarterly Report, a rise in chip stocks, the FAANG Group, and Chinese companies. in the United States

Salesforce (N 🙂 jumped 7%.

Tiffany & Co (N 🙂 plunged 12% after quarterly high-end jewelers, identical

– Reuters contributed to this report