Nasdaq-100 Rises 0.7% to 29,265 Despite Hot PPI as Nvidia Hits Record High

The Nasdaq-100 climbed 0.7% to 29,265.56 on May 13, 2026, led by semiconductors and Nvidia's record high above $226 with a $5.5 trillion market cap, shrugging off hotter-than-expected April PPI (+1.4% m/m, +6% y/y). This rebound followed a sharp 1.9-2.1% plunge on May 12, driven by chip stocks like Micron (-9.9%) and Broadcom (-4.2%) amid hotter CPI—the highest since spring 2023—and Strait of Hormuz oil disruptions. The S&P 500 rose 0.5% to 7,437.67 while the Dow fell 0.4%, signaling rotation into AI and growth names despite higher-for-longer rate fears.