01:31 PM EDT, 06/12/2024 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.7% and the SPDR S&P Semiconductor ETF (XSD) climbing 3.3%.

The Philadelphia Semiconductor index added 3.1%.

In corporate news, Oracle (ORCL) shares surged past 12% after it reported an increase in fiscal Q4 sales and unveiled partnerships with Microsoft (MSFT) and Alphabet's (GOOG, GOOGL) Google.