01:37 PM EDT, 07/22/2024 (MT Newswires) -- Tech stocks were gaining Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.1% and the SPDR S&P Semiconductor ETF (XSD) up 2.9%.

The Philadelphia Semiconductor index climbed 3.2%.

In corporate news, CrowdStrike's ( CRWD ) financial outlook faces some uncertainty over the next one to two quarters following last week's global tech outage, but the company can likely limit "reputational damage" in the longer term, Morgan Stanley said Monday. CrowdStrike ( CRWD ) shares were down 13.7%.