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Sector Update: Tech

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Tech stocks were mixed Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.1%.

The Philadelphia Semiconductor index added 1%.

In corporate news, Meta (META) is moving 7,000 employees into new AI-focused roles as part of a broader restructuring that also includes planned job cuts later this week, Bloomberg reported Monday. The workers will be reassigned to teams focused on AI products, including agents and apps, according to the memo from Chief People Officer Janelle Gale reviewed by Bloomberg. Meta shares were down 1.1%.

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Sector Update: Financial Stocks Rise Monday

Financial stocks advanced Monday with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.The Philadelphia Housing Index climbed 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 1.1%.Bitcoin (BTC-USD) fell 2% to $76,840, and the yield for 10-year US Treasuries was little changed at 4.60%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed.In sector news, President Donald Trump will swear Kevin Warsh in as Federal Reserve chair on Friday, Bloomberg reported.In corporate news, American Homes 4 Rent (AMH) shares climbed 4.2% after Raymond James upgraded the stock to outperform from market perform with a price target of $35.UWM (UWMC), which is pursuing its own bid for Two Harbors Investment (TWO), urged shareholders to vote against the rival CrossCountry Mortgage merger proposal at a special meeting scheduled for 10 a.m. Tuesday. UWM shares fell 2.5%, and Two Harbors shed 1.4%BlackRock (BLK) is considering a $5 billion to $10 billion investment in SpaceX's planned initial public offering, The Information reported. BlackRock shares added 0.5%.Citigroup (C) and BlackRock's HPS Investment Partners are launching a 15 billion euro ($17.48 billion) private capital program to expand access to private financing for corporate and sponsor-owned borrowers in the Europe, the Middle East and Africa. Citi shares fell 0.9%.

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Sector Update: Energy Stocks Gain Late Afternoon

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