03:32 PM EDT, 10/29/2024 (MT Newswires) -- Tech stocks were higher late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.3%.

The Philadelphia Semiconductor index rose 2.7%.

In corporate news, Altair Engineering ( ALTR ) shares jumped nearly 9% after Bloomberg reported that Siemens is close to a deal to buy the software firm.