03:38 PM EDT, 05/09/2025 (MT Newswires) -- Tech stocks were mixed late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) easing 0.1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.7%.

The Philadelphia Semiconductor index rose 0.8%.

In sector news, tech industry representatives are warning that new US investments pledged by major firms could be put at risk if Congress doesn't fully reinstate a tax deduction for research and development, Bloomberg reported, citing the Information Technology Industry Council.

In corporate news, The Trade Desk ( TTD ) reported overnight that Q1 sales surged 25% year-over-year to $616 million, beating the $575.3 million consensus of analysts polled by FactSet. Its shares jumped past 18%.