Brian Szytel recaps a mixed market day on Wednesday, May 13: the Dow fell about 67 points while the S&P rose nearly 0.6% and the Nasdaq gained 1.2%, led by semis even as many software names sold off; rates and energy prices ticked higher amid ongoing Middle East unrest and uncertainty around a ceasefire. The key economic event was a much hotter-than-expected Producer Price Index, with headline PPI up 1.4% (vs. 0.7% expected) and core PPI up 1.0% (vs. 0.3%), leaving year-over-year headline at 6% and core at 5.2%, driven largely by services and broad demand, with tariffs, stimulus, and lower interest rates also cited. He notes these inflation readings complicate Fed policy as Warsh arrives and Powell’s term ends the 15th. The Ask TBG segment explains time value of money and why longer horizons can justify higher volatility for higher expected returns.Links mentioned in this episode:DividendCafe.comTheBahnsenGroup.com