03:29 PM EDT, 06/25/2024 (MT Newswires) -- Tech stocks were rising late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) gaining 1.7% and the SPDR S&P Semiconductor ETF (XSD) adding 0.7%.

The Philadelphia Semiconductor index climbed 1.6%.

In corporate news, MicroStrategy ( MSTR ) spiked almost 8% after Maxim started coverage of the company with a buy rating and a $1,835 price target.