01:06 PM EDT, 05/20/2026 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3.7%.

The Philadelphia Semiconductor index climbed 3.4%.

In corporate news, Nvidia's ( NVDA ) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia ( NVDA ) stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation." Nvidia ( NVDA ) shares rose 1.8%.