12:02 PM EST, 12/18/2025 (MT Newswires) -- US equity indexes jumped in midday trading on Thursday after the inflation rate unexpectedly slumped and Micron Technology's ( MU ) blowout quarterly results boosted risk sentiment.

The Nasdaq rose 2% to 23,141.1, with the S&P 500 up 1.4% to 6,815.5 and the Dow Jones Industrial Average 0.9% higher at 48,329.8.

The consumer price index rose 2.7% year over year from 3% reported in September, according to a Thursday report from the Bureau of Labor Statistics, which failed to collect survey data in October because of the federal government shutdown. The November print lagged the Bloomberg-polled consensus for a 3.1% increase. The core CPI, which excludes food and energy prices, rose 2.6% from a year ago, missing the forecasted 3% growth.

Most US Treasury yields fell, with the 10-year down 3.5 basis points to 4.12% and the two-year lower by 2.6 basis points to 3.46%.

Consumer discretionary, technology, and communication services led gainers after midday, with energy and utilities being the only two sectors in negative territory.

Micron Technology ( MU ) shares soared 14% after the tech giant reported an increase in fiscal Q1 adjusted earnings and revenue, topping analysts' expectations overnight. Micron also handily beat the market's fiscal Q2 expectations.