The S&P 500 has nearly wiped out yesterday's decline as tech surges

The S&P 500 has almost erased a four-day decline, up 1.3%, driven by a significant surge in technology stocks. The market rally follows a softer than expected US inflation report, with year-over-year inflation dropping from 3.0% to 2.6%. Despite potential issues related to the data collection due to the government shutdown, investors are optimistic as this may strengthen the case for interest rate cuts early next year. Major gainers include Micron, up 11% after exceeding revenue estimates, along with strong performances from AI-related stocks like GE Vernova and Constellation Energy. The change in leadership at Lululemon is pushing its shares higher, while Starbucks benefits from an increase in consumer spending. However, some companies like Service Now and Lennar are struggling after significant declines.