01:37 PM EDT, 08/15/2024 (MT Newswires) -- Tech stocks were sharply higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.7% and the SPDR S&P Semiconductor ETF (XSD) jumping 5.1%.

The Philadelphia Semiconductor index spiked 4.7%.

In corporate news, Roper Technologies ( ROP ) shares popped 3.5% after the company agreed to buy Transact Campus, saying it will tie the payments and commerce company's systems into a unit that provides software for senior living, educational, business and healthcare sites.