01:32 PM EDT, 10/29/2024 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.2% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.6%.

The Philadelphia Semiconductor index gained 1.6%.

In corporate news, Cadence Design Systems ( CDNS ) shares jumped 13%. The company tightened its full-year outlook, raising the lower end of the range on earnings and revenue after better-than-expected Q3 results.