03:45 PM EDT, 05/15/2024 (MT Newswires) -- Tech stocks were advancing late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) gaining 2.2% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.8%.

The Philadelphia Semiconductor index rose 2.7%.

In corporate news, Microsoft ( MSFT ) said Wednesday it will require its main suppliers to use 100% renewable energy by 2030 as the tech giant aims to see progress in reducing indirect emissions in its value chain. Its shares added 1.8%.

About half of Amazon.com's ( AMZN ) frontline warehouse workers are struggling with housing and food insecurity, as well as being able to pay their bills, according to a report by the Center for Urban Economic Development at the University of Illinois Chicago. Amazon ( AMZN ) shares were shedding 0.6%.

Monday.com ( MNDY ) lifted its full-year outlook Wednesday after the project management software provider's Q1 results topped market expectations, buoyed by robust demand for its products across all end markets. Its shares surged 21%.

Dynatrace ( DT ) on Wednesday recorded better-than-expected fiscal Q4 results, while the software company forecasts fiscal 2025 results to be higher than the previous year. Dynatrace ( DT ) shares spiked 3.4%.