03:29 PM EDT, 06/06/2025 (MT Newswires) -- Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.1% and the SPDR S&P Semiconductor ETF (XSD) adding 1.4%.

The Philadelphia Semiconductor index increased 0.8%.

In sector news, President Donald Trump is expected to sign an executive order that will delay enforcement of a law banning TikTok or requiring its sale ahead of a June 19 deadline, The Wall Street Journal reported Friday.

In corporate news, Applied Materials ( AMAT ) shares rose 1.8% after Morgan Stanley upgraded the company's stock to equalweight from underperform, while trimming its price target to $158 from $162.