Sector Update: Tech

Last Updated: Tuesday, October 4, 2022 3:41 PM | MT Newswires

Technology stocks were finishing near their intra-day highs this afternoon, with the SPDR Technology Select Sector ETF (XLK) rising 3.2% while the Philadelphia Semiconductor Index was gaining 3.9% this afternoon. In company news, DXC Technology (DXC) climbed 5.5% after the IT services company Tuesday said it has been approached by an unnamed "financial sponsor" with a potential acquisition offer and has begun preliminary talks and sharing information although it also stressed it has yet to receive a formal proposal.

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