03:30 PM EDT, 08/06/2024 (MT Newswires) -- Tech stocks were higher late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.5% and the SPDR S&P Semiconductor ETF (XSD) adding 1.5%.

The Philadelphia Semiconductor index climbed 2.2%.

In corporate news, Lumen Technologies ( LUMN ) shares soared 86% as Citigroup upgraded the company's rating to neutral from sell, with a price target of $3.15.