03:28 PM EDT, 03/25/2026 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 1.6%.

The Philadelphia Semiconductor index climbed 1.1%.

In corporate news, Salesforce ( CRM ) is skipping raises this year for director-level employees and above, Business Insider reported, citing an internal memo. Top performers at these levels will instead receive larger stock grants and bonuses, while merit increases will apply only to senior managers and below. The company is calling it an "investment in performance and long-term growth," the report said. Salesforce ( CRM ) shares were down 0.7%.