Wall Street Surges: Inflation Eases, Tech Stocks Rally

Wall Street's main indexes climbed following a soft inflation report, which kept interest rate cuts by the Federal Reserve in play. Key gains were observed in the tech sector, with Micron's optimistic forecast alleviating valuation worries. Consumer prices rose less than expected, raising questions about data accuracy.

In a decisive boost for Wall Street, major indexes surged on Thursday as a surprising inflation report maintained hopes of potential interest rate cuts by the Federal Reserve. Reflective of market optimism, the tech sector experienced a notable upswing, led by Micron's strong forecast.

Consumer prices showed a milder increase than anticipated, though this was accompanied by uncertainty due to the Labor Department's data constraints from the recent 43-day government shutdown. The Bureau of Labor Statistics refrained from publishing month-to-month CPI changes, raising concerns over the report's accuracy.

Tech-heavy stocks posted significant gains, with Micron Technology jumping 11%, spurred by robust AI demand. Meanwhile, other sectors, including cannabis, showed promise amid potential regulatory shifts, highlighted by a major spike in Trump Media & Technology shares.

(With inputs from agencies.)