Sector Update: Tech

MT Newswires Live03:21

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.4%.

The Philadelphia Semiconductor index shed 0.4%.

In corporate news, Meta (META), Alphabet's (GOOGL) Google and Snap (SNAP) face one fewer teen social media addiction lawsuit after a 15-year-old New Jersey girl dropped her claims against the companies ahead of an October trial, Reuters reported Friday, citing a court filing. Reuters reported that the plaintiff, identified in court records as P. M-Y., had alleged that the companies' platforms contributed to her social media addiction, depression and self-harm. Meta shares were up 0.7%, Alphabet added 1.3%, and Snap was shedding 1.5%.

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