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Sector Update: Tech

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Technology stocks were higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.3%.

Taiwan Semiconductor Manufacturing (TSM) and Sony Semiconductor Solutions, a subsidiary of Sony Group (SONY), said they agreed to establish a joint venture in Kumamoto Prefecture, Japan, to develop and manufacture advanced image sensors for smartphones, with volume production expected to begin in 2029. Shares of Taiwan Semiconductor Manufacturing were nearly 1% higher pre-bell.

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