The market shakes off hot inflation data
Key takeaways
- The April Producer Price Index (PPI) was even further above estimates.
- On May 12th, the market staged a meaningful pullback after the CPI print but was in recovery mode by midday on the 13th, with a big bounce in semiconductors and the Dow closing in the green.
- The PPI print, which left the year-over-year (YoY) headline PPI at a very uncomfortable +6.0%, the highest since February 2023, has had a much more muted impact.
The market shakes off hot inflation data Louis Navellier Fri, May 15, 2026 at 12:42 AM GMT+7 3 min read ^DJI ^IXIC SPGI We got a hot April Consumer Price Index (CPI) number, driven in a big way by energy costs, but even core CPI was surprisingly high, driven by a jump in shelter costs for the first time in a while. The April Producer Price Index (PPI) was even further above estimates.
On May 12th, the market staged a meaningful pullback after the CPI print but was in recovery mode by midday on the 13th, with a big bounce in semiconductors and the Dow closing in the green.
Interest rates rose materially. The PPI print, which left the year-over-year (YoY) headline PPI at a very uncomfortable +6.0%, the highest since February 2023, has had a much more muted impact.