Wednesday - May 13, 2026
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 569 Ratings
🗓️ 13 May 2026
⏱️ 7 minutes
🧾️ Download transcript
Summary
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.
00:00 Market Wrap Overview
00:18 Tech Leads and Rates Rise
00:37 Middle East Tensions and Oil
01:15 Hot PPI Inflation Surprise
02:21 What’s Driving Prices
03:24 Fed Constraints and Policy Outlook
03:48 Ask TBG Time Value Money
04:58 Closing Thoughts and Tomorrow
Links mentioned in this episode: DividendCafe.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:11.4 | Good evening and welcome back to Dividend Cafe. Brian Saitel with you here again as your host. This is Wednesday, May the 13th. |
| 0:19.2 | On a mixed day in markets, you had the Dow that was down, about 67 points. |
| 0:24.3 | S&P actually closed higher by almost 6 tenths of a percent, and the NASDAQ was up 1.2%. So obviously, a big |
| 0:31.3 | outperformance day on the technology side. Although when I say weird, it's because most of the software |
| 0:36.1 | names were just pummel today. |
| 0:39.4 | So pretty bifurcated. |
| 0:43.0 | Semis have been volatile, obviously have been up a lot this year. |
| 0:44.4 | We're up a lot today again. |
| 0:47.6 | So there you have it all in the stock market, at least. |
| 0:49.6 | Rates were up a little bit across the curve. |
| 0:55.6 | You had energy prices that moved slightly higher also on continued unrest in the Middle East and really no end in sight. There was talk from Trump today about the ceasefire essentially being a life |
| 1:01.7 | support, meaning there's a very small chance that it's going to just stay where it is and likely |
| 1:06.5 | there could be a new escalation to ultimately get the straight reopened, but it's not a great situation. |
| 1:12.0 | All in all, the market has held in there because of the strong consumer, strong economy and all |
| 1:17.3 | those positive things. We just can't take that stuff for granted. I was actually on Bloomberg |
| 1:22.0 | this morning talking about that. There's a link inside of Divida Cafe, if you want to watch it. |
| 1:26.6 | On the day, what we got was |
| 1:29.3 | the PPI number. And again, this number was out after I was actually on TV. So I didn't talk about it then, |
| 1:35.4 | but we got a huge number across the board. If you look at headline PPI, we were up stunning 1.4%. |
| 1:45.5 | We were only expecting a 0.7.0.7 is high, but remember, that includes energy. |
| 1:51.1 | So we know that energy is going to be a lot higher. |
... |
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