01:02 PM EDT, 07/14/2026 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2%.

The Philadelphia Semiconductor index climbed 2.9%.

In corporate news, IBM ( IBM ) shares tumbled 24% after the company's preliminary Q2 results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."