03:32 PM EDT, 08/13/2024 (MT Newswires) -- Tech stocks were sharply higher late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.8% and the SPDR S&P Semiconductor ETF (XSD) jumping 3.5%.

The Philadelphia Semiconductor index climbed 3.6%.

In corporate news, Dell Technologies ( DELL ) shares jumped over 5% as Barclays upgraded its rating on the stock to equalweight from underweight with a price target of $97.