03:39 PM EDT, 08/21/2024 (MT Newswires) -- Tech stocks were rising late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) increasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.1%.

The Philadelphia Semiconductor Index gained 1.2%.

In corporate news, Analog Devices ( ADI ) shares rose nearly 2%. The company guided for a sequential improvement in fiscal Q4 results on Wednesday after performing better than expected in Q3.