Sector Update: Tech
Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3.8%. The Philadelphia Semiconductor index climbed 3.4%. In corporate news, International Business Machines (IBM) is expected to post a solid Q2 and modestly raise its 2026 guidance, supported by continued software momentum and early integration benefits from its recent Confluent acquisition, BofA Securities said in a report. IBM shares rose 3.7%.
8%. 4%. In corporate news, International Business Machines (IBM) is expected to post a solid Q2 and modestly raise its 2026 guidance, supported by continued software momentum and early integration benefits from its recent Confluent acquisition, BofA Securities said in a report. 7%.