01:33 PM EDT, 07/25/2024 (MT Newswires) -- Tech stocks rose Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 0.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.5%.

The Philadelphia Semiconductor index gained 0.2%.

In corporate news, IBM's ( IBM ) Q2 earnings unexpectedly increased as momentum in software propelled consolidated revenue above Wall Street's estimates. The shares jumped 5.8%.