Tech stocks were higher Thursday afternoon, with the Technology Select Sector SPDR Fund $(XLK)$ rising 1.3% and the SPDR S&P Semiconductor ETF $(XSD)$ adding 1.2%.
The Philadelphia Semiconductor index was up 0.6%.
In corporate news, Datadog (DDOG) shares jumped nearly 16% following announcement that the software company will be joining the S&P 500 next week.
Cadence Design Systems $(CDNS)$ and Synopsys $(SNPS)$ shares rose 5.1% and 4.9% after the companies said that the US rescinded export restrictions on electronic design automation software to China.
Olo $(OLO)$ on Thursday said it agreed to be acquired and taken private by Thoma Bravo in an all-cash deal, which gives the restaurant technology provider an equity value of about $2 billion. Olo shares surged nearly 14%.
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