-- Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.4%.
The Philadelphia Semiconductor index climbed 1.4%.
In corporate news, Intel (INTC) is seen with a modest upside bias to its fiscal Q1 results and full-year outlook, driven by resilient PC demand and a sharp inflection in server CPU demand, along with pricing gains of roughly 10%, UBS Securities said in a note. UBS maintained its neutral rating on the stock but raised its price target to $65 from $51. Intel shares rose 4.5%.