Sector Update: Tech Stocks Gain Late Afternoon

MT Newswires Live04:46

Tech stocks rose late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 1.4% and the SPDR S&P Semiconductor ETF (XSD) climbing 3.1%.

The Philadelphia Semiconductor index advanced 2%.

In corporate news, Amazon.com (AMZN) will likely face an investigation next year into whether it favors its own brands on its online marketplace as EU antitrust regulators build a case under the Digital Markets Act, Reuters reported. Amazon shares fell 2.3%.

Kyndryl (KD) shares jumped 14% after the company announced a $300 million share buyback program.

Alphabet's (GOOG) Google must sell its Chrome browser and take other major steps to end its monopoly on internet searches, the US Justice Department and a group of states said Wednesday in a court filing. Alphabet shares tumbled 4.7%.

Snowflake (SNOW) shares surged 32% after the company issued an upbeat fiscal Q4 product revenue outlook and reported better-than-expected Q3 results.

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