Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.1%.
The Philadelphia Semiconductor index climbed 1.8%.
In corporate news, Oracle's (ORCL) earnings growth is set to accelerate through the rest of the decade, likely improving investor sentiment over time, Oppenheimer said in a note. The brokerage upgraded its rating on Oracle to outperform from perform and initiated a price target of $185. Oracle shares were up 2.3%.
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