01:58 PM EDT, 06/17/2024 (MT Newswires) -- Tech stocks were mixed in Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) rising 1.7% and the SPDR S&P Semiconductor ETF (XSD) easing 0.1.

The Philadelphia Semiconductor index rose 1.5%.

In corporate news, Adobe (ADBE) is being sued by the Federal Trade Commission for allegedly hiding fees it charges for early cancellation of its most popular subscription plan, the regulator said. Adobe shares fell 1%.

The US Supreme Court granted Nvidia's ( NVDA ) petition for a review of a shareholder lawsuit accusing the company of misleading investors about the impact of cryptocurrency sales on its financial performance. Separately, the chipmaker said it's launching its Omniverse Cloud Sensor RTX microservices to expedite the development of autonomous machines. Nvidia ( NVDA ) shares added 0.3%.

Microsoft ( MSFT )-backed (MSFT) OpenAI and genetic testing firm Color Health are developing an AI-powered cancer screening and treatment tool, The Wall Street Journal reported. Microsoft ( MSFT ) shares rose 1.5%.