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Sector Update: Tech Stocks Mixed in Afternoon Trading

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Tech stocks were mixed Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1%.

The Philadelphia Semiconductor index was fractionally higher.

In corporate news, South Korean semiconductor company SK Hynix's (SKHYV) American depositary shares opened Friday at $170 in their debut on the Nasdaq. The initial public offering was priced at $149 per ADR to raise $26.5 billion, the company said.

ChipMOS Technologies (IMOS) shares rose past 3% after the company said its Q2 revenue rose 28.7% year over year to 7.38 billion New Taiwan dollars ($231.8 million), marking its highest quarterly revenue since 2014.

Meta Platforms' (META) "addictive" design of Instagram and Facebook violates the European Union's Digital Services Act, the European Commission said. Meta shares were up 5.2%.

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Sector Update: Energy Stocks Fall Late Afternoon

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Sector Update: Financial Stocks Higher Late Afternoon

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