03:36 PM EST, 12/02/2024 (MT Newswires) -- Tech stocks were higher late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.1% and the SPDR S&P Semiconductor ETF (XSD) adding 2.1%.

The Philadelphia Semiconductor index climbed 2.8%.

In corporate news, Core Scientific ( CORZ ) shares sank over 12% after the company said it plans to launch a $500 million private placement of convertible notes due 2031.