US equities were higher in Wednesday trading, though ended off best levels, with the Dow Jones, S&P500, and Nasdaq closing up 107bps, 167bps, and 250bps respectively. Global risk assets were boosted by comments from President Trump on Powell, China tariffs. April flash composite PMI was a bit weaker than consensus. March new home sales printed well above consensus. Fed's Beige Book said activity little changed since the previous report, but uncertainty around trade policy is pervasive.