Tech stocks rose late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 1.4% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.1%.
The Philadelphia Semiconductor index gained 2%.
In corporate news, Microsoft’s MSFT threat intelligence division said a Chinese hacking group called Silk Typhoon was targeting remote management tools and cloud applications as part of a supply-chain attacks campaign. Separately, Microsoft’s partnership with OpenAI doesn’t qualify for an investigation under UK merger rules, the country’s antitrust regulator said. Microsoft shares rose 3%.