U.S. stocks trade mixed as hot April PPI lifts Treasury yields, oil

U.S. stocks were mixed in early trading on May 13, 2026, after April producer prices rose more than expected, pushing Treasury yields higher and reinforcing bets that the Federal Reserve will keep rates elevated or consider further tightening. The Dow Jones Industrial Average fell 263.28 points, or 0.53%, to 49,497.28, while the S&P 500 lost 0.16% to 7,389.11. The Nasdaq Composite rose 0.08% to 26,108.60. The 10-year Treasury yield climbed to 4.47%, and WTI crude rose 0.39% to $102.58 a barrel. U.S. April PPI rose 6.0% from a year earlier, above the 4.9% forecast, while core PPI increased 5.2%, topping expectations of 4.3%. Month-on-month PPI rose 1.4%, versus a 0.5% estimate. Morgan Stanley raised its year-end S&P 500 target to 8,000 from 7,800, saying major risks may already be priced in.