US STOCKS - Nasdaq Hits Record Close after Powell Reassures Investors, CPI in Focus

WALL STREET - May 14 (Reuters) - The Nasdaq scored a record closing high on Tuesday and the S&P 500 and the Dow also advanced as Federal Reserve Chair Jerome Powell reassured investors while they digested Tuesday's data and waited for Wednesday's crucial consumer inflation report.

U.S. producer prices increased more than expected in April as the cost of services and goods rose sharply, leading traders to pare back bets of a first rate cut in September.