Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 3.1%.
The Philadelphia Semiconductor index popped 3.9%.
In corporate news, Intel (INTC) and Apollo Global Management (APO) said Wednesday they have reached a deal under which Intel will buy back for $14.20 billion the 49% stake in a joint venture related to its Fab 34 plant in Ireland that it previously sold to Apollo. Intel shares jumped past 9%.
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