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Sector Update: Tech

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Tech stocks advanced late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 5.5%.

The Philadelphia Semiconductor index climbed 4.2%.

In corporate news, Micron Technology (MU) said Tuesday it is investing $250 million into 530A Accounts, also known as Trump Accounts. As part of the investment, Micron said it will match employee contributions up to $1,000 per child under 18 and provide a one-time $250 seed deposit for children with Trump Accounts where it operates in Idaho, New York, Virginia, California, Colorado, Minnesota and Texas. Micron shares rose 1.6%.

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