Sector Update: Tech Stocks Advance Friday Afternoon

MT Newswires Live
Oct 04

Tech stocks rose Friday afternoon with the Technology Select Sector SPDR Fund (XLK) increasing 0.2% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.5%.

The Philadelphia Semiconductor Index added 0.4%.

In corporate news, Microsoft (MSFT) is set to announce a version of Xbox Cloud Gaming that includes advertisements, technology news website The Verge reported. Microsoft shares rose 0.5%.

A US Army battlefield communications system being developed by tech companies Anduril and Palantir (PLTR) has been labeled a "very high risk" due to serious security vulnerabilities, Reuters reported, citing an internal Army memo. Palantir shares dropped past 6%.

Alphabet's (GOOG) Google announced plans to invest $4 billion through 2027 to develop a new data center in West Memphis, Arkansas. Alphabet shares were easing 0.1%.

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