01:43 PM EST, 01/17/2025 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.7% and the SPDR S&P Semiconductor ETF (XSD) climbing 3.3%.

The Philadelphia Semiconductor index popped 2.7%.

In sector news, the US Supreme Court will allow a ban on TikTok to take effect as scheduled on Sunday after rejecting an appeal on Friday.

In corporate news, Apple's ( AAPL ) key assembly partner Foxconn has faced challenges in deploying Chinese staff to India and importing specialized machinery from China, though production remains unaffected for now, Bloomberg reported. Apple ( AAPL ) shares were rising 0.7%.