01:34 PM EDT, 06/05/2024 (MT Newswires) -- Tech stocks rose Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) climbing 1.8% and the SPDR S&P Semiconductor ETF (XSD) jumping 3.2%.

The Philadelphia Semiconductor index surged 3.7%.

In corporate news, Hewlett Packard Enterprise ( HPE ) shares soared 13% after the company reported stronger-than-expected sales and earnings for fiscal Q2 while raising its guidance for the full year.