By David French (Reuters) -Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite posting its latest record finish, despite a chaotic half hour when news reports suggested U.

Wall Street ended Wednesday on top as markets grinded out a win in the wake of the latest PPI data and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.

This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.

Wall Street benchmarks closed modestly higher on Wednesday, with the Nasdaq Composite achieving its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell.

The Wall Street Journal editorial board on Wednesday urged President Trump not to follow through on his threat to fire Federal Reserve Chair Jerome Powell, warning the consequences would be worse

The S&P 500 reverses earlier losses to close just shy of a record.

Japan's exports fell for a second straight month as sweeping U.S. tariffs took a toll on the country's manufacturers, and Canadian retailer Alimentation Couche-Tard pulled its $47 billion bid to buy Seven & i Holdings, citing a lack of constructive engagement by the Japanese retailer.

Federal Reserve Chair Jerome Powell has struggled to get his message across as inflation stays above 8 percent, but now it appears he’s made himself clear to Wall Street