The Dow gathers more than 600 points in better session since March after the speech of the president of the Fed

AP Photo / Richard Drew

Shares climbed on Wednesday after Federal Reserve Chairman Jerome Powell delivered a less enthusiastic speech than expected, pushing Wall Street to its best day of months after a series of mbadive sales from October to November.

The Dow Jones Industrial Average index jumped 2.5%, more than 600 points, marking its best day since March. The Nasdaq Composite gained 212 points, or 3%, and the S & P 500, 61 points, or 2.3%.

Powell said Wednesday that credit levels and corporate quality are main risks for the economybut the outlook remains solid and rates are "just below" at a neutral level.

"These comments are slightly tipping the scales in favor of a reduction in the number of increases in 2019," said Adam Ozimek, an economist at Moody's. "This is good news as the economy is creating jobs quickly alongside low inflation."

Market watchers will continue to watch for signs of whether recent stock market turmoil or ongoing trade tensions could impact Fed rate changes at the minutes meeting on Thursday. .

Treasury yields, which may signal market expectations of interest rates, have fallen as a result of Powell's speech. The 10-year fell 1.3 basis points to 3.046%, and the 2-year decline declined 2.6 basis points to 2.805%.

Trade-Sensitive Measures, Including Boeing (up $ 15, or 4.8%) and caterpillar (up $ 6, or 5%), led the Dow up. President Donald Trump and Chinese President Xi Jinping are expected to meet at the G20 in Argentina on Saturday, where tariff escalation between the world's largest economies will be on the list.

Tuesday, the New York Times reported Trump is worried about the long-term effects his trade policies could have on the market and on the economy. Nevertheless, the president told The Wall Street Journal this week that he was planning to raise tariff rates on Chinese imports in January.

Oil dropped more than 3% after the United States m said in a report, stocks climbed for a 10th consecutive week. Prices plunged deeper into bearish territory, with West Texas Intermediate trading around $ 50.50 a barrel and Brent below $ 59. The OPEC and other major producers should discuss coordinated production levels at a meeting next week.