The major averages finished in the green off the highs following lighter-than-expected inflation data, good for lower interest rates and better than expected earnings and guidance from chipmaker Micron Technology. The Dow Jones Industrial Average finished up 65 points after being up 500 points earlier. The S&P 500 rose 53 points while Nasdaq rose 313 points or 1.3%.

On the economic front, The delayed November consumer price index report came in at 2.7%  below the 3.1% that economists polled had expected. The 12-month rate for core CPI, which excludes food and energy, was 2.6%, lower than the Dow Jones forecast of 3%.

The yield on the 10-year Treasury fell 3 basis points to 4.11%. The 2-year Treasury yield declined 2 basis points to 3.46%. The 30-year Treasury bond yield declined 2 basis points to 4.80%.

Tech led the rally with Micron up 10% back near all time highs. Micon lifted the whole sector. Dell and HP were lower as they may have to absorb the higher prices for memory chips from Micron for their PCs and other devices.

Outside the tech space, things were much more muted.

In the commodity space, energy stocks were weak even as the price of oil was unchanged at $56 a barrel. Gold was modestly lower still above $4300 an ounce while cryptocurrencies resumed their selling near 8 month lows.

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