01:29 PM EST, 12/20/2024 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2%.

The Philadelphia Semiconductor index popped 2.1%.

In corporate news, Synopsys' ( SNPS ) planned acquisition of Ansys ( ANSS ) could reduce competition in the semiconductor chip design and light simulation software sector in the UK, Britain's Competition and Markets Authority said in a Friday statement. Synopsys ( SNPS ) shares were rising 0.2% and Ansys ( ANSS ) was up 0.6%.