03:18 PM EST, 12/03/2024 (MT Newswires) -- Tech stocks were advancing in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) rising 2.1%.

The Philadelphia Semiconductor index shed 0.4%.

In corporate news, Intel ( INTC ) is considering outside candidates to fill its vacant chief executive position, including Marvell Technology ( MRVL ) CEO Matt Murphy, Bloomberg reported. Pat Gelsinger retired as Intel ( INTC ) CEO effective Sunday. Intel ( INTC ) shares tumbled 5.8% and Marvell ( MRVL ) was down 0.3%.