03:32 PM EDT, 05/03/2024 (MT Newswires) -- Tech stocks rose late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) climbing 3% and the SPDR S&P Semiconductor ETF (XSD) adding 2.2%.

The Philadelphia Semiconductor index climbed 2.5%.

In corporate news, Sprout Social's ( SPT ) shares plunged 37% after KeyBanc downgraded the stock to sector weight from overweight, citing "disappointing" Q1 results.