Stocks closed solidly higher Wednesday, though well off their earlier highs, as investor concerns about tariffs and Federal Reserve independence eased following comments from President Donald Trump.

Shares of US companies exposed to China jumped, led by Apple (APPL) and Nvidia (NVDA), by 3% and 5% respectively. Meanwhile, market sentiment trumped Gold’s rally so far, with the yellow metal diving over 2.75% down at $3,286 even though US Treasury yields are also falling, with the 10-year T-note coupon down three basis points to 4.364%.