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Sector Update: Tech Stocks Rise Friday Afternoon
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Sector Update: Tech Stocks Rise Friday Afternoon
Dec 20, 2024 11:07 AM

01:53 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 1.7%.

The Philadelphia Semiconductor index popped 2.1%.

In corporate news, Nvidia's ( NVDA ) proposed acquisition of Run:ai Labs was approved unconditionally by the European Commission, according to a statement by the Commission. Nvidia ( NVDA ) shares gained more than 2% recently.

Synopsys' ( SNPS ) planned acquisition of Ansys ( ANSS ) could reduce competition in the semiconductor chip design and light simulation software sector, UK's Competition and Markets Authority said in a Friday statement. Synopsys ( SNPS ) shares were up 0.2% and Ansys ( ANSS ) added 0.4%.

Joby Aviation ( JOBY ) shares jumped more than 8%. The company said Friday it has entered the final certification phase for its electric air taxi by conducting its first US Federal Aviation Administration Type Inspection Authorization testing.

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