01:37 PM EST, 03/05/2025 (MT Newswires) -- Tech stocks rose Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.3% and the SPDR S&P Semiconductor ETF (XSD) adding 0.2%.

The Philadelphia Semiconductor index rose 0.7%.

In sector news, the US Commerce Department is considering revamping a program aimed at expanding US internet access with new rules that would make it easier for Trump administration political ally Elon Musk's Starlink satellite broadband service to cash in, The Wall Street Journal reported Tuesday.

In corporate news, CrowdStrike ( CRWD ) shares dropped 7.2%, a day after the company's fiscal Q1 and full-year earnings guidance trailed estimates by analysts.