03:38 PM EST, 12/16/2024 (MT Newswires) -- Tech stocks rose late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each adding 1%.

The Philadelphia Semiconductor climbed 2.3%.

In corporate news, Broadcom ( AVGO ) shares jumped past 10.7%. Goldman Sachs was among several investment firms adjusting their respective price targets on the company, lifting it to $240 from $190 while maintaining the chipmaker's buy rating.