03:24 PM EST, 12/20/2024 (MT Newswires) -- Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.9%.

The Philadelphia Semiconductor index popped 2.1%.

In corporate news, Texas Instruments ( TXN ) shares rose 1.7%. The company and the US Department of Commerce said Friday that Texas Instruments ( TXN ) was awarded up to $1.6 billion in direct funding for new semiconductor manufacturing facilities.